What is globalisation

globalization, globalization in a 1983 article titled “The Social scientists have identified the central aspects of globalization as interconnection, intensification, time-space distanciation (conditions that allow time and space to be organized in a manner that connects presence and absence), supraterritoriality, time-space compression, action at a distance, and What distinguishes the process of modern globalization from those forms of global integration that preceded it are its pace and extent. According to some academics, three distinct eras of modern globalization can be identified, each of them marked by points of sudden acceleration in international interaction. Under this scheme, the “first globalization” era refers to the period between approximately 1870 and 1914, during which new transportation and communication technology decreased or eliminated many of the drawbacks to distance. The “second globalization” era is said to have lasted from roughly 1944 to 1971, a period in which an international New levels of interconnectedness fostered by globalization are credited for numerous benefits to humanity. The spread of industrial technology and the resulting increase in productivity have contributed to a reduction in the percentage of the world’s population living in poverty. The sharing of medical knowledge has dramatically decreased the incidence of once-feared diseases and even eliminated smallpox. And economic interdependence among countries discourages war between...

What are the effects of globalization? We live in an increasingly interconnected and interdependent world. The growing interdependence of the world’s economies, cultures and populations—or "globalization"—touches every part of our lives, from the products we buy to the food we eat to the ways we communicate with one another. Globalization is also tied to some of the other biggest issues we face in the modern era, including The intertwining of countries and markets all over the world has both benefits and downsides, so policies that support integration have both proponents and detractors. No matter which side you’re on, globalization is simply a reality of modern life; therefore, it’s important to understand how it affects us and the choices we make. In this module, we will • learn about the economic impacts of globalization and follow the global • explore the economic and political changes that have supported to the global expansion of this supply chain, • get to know the international institutions and organizations that govern issues of global concern, • investigate how seemingly unrelated events around the world can coalesce to cause problems at home, • look at how globalization has created new markets for everything from avocados to Hollywood movies, and • explore the technological innovations that have made it easier for people all over the world to connect with one another.

By • Technical Features Writer What is globalization? Globalization is the process by which ideas, knowledge, information, goods and services spread around the world. In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including , to maximize returns and benefit for the common good. Globalization, or globalisation as it is known in some parts of the world, is driven by the convergence of cultural and economic systems. This convergence promotes -- and in some cases necessitates -- increased interaction, integration and interdependence among nations. The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world becomes. How globalization works In a globalized economy, countries specialize in the products and services they have a competitive advantage in. This generally means what they can produce and provide most efficiently, with the least amount of resources, at a lower cost than competing nations. If all countries are specializing in what they do best, production should be more efficient worldwide, prices should be lower, economic growth widespread and all countries should benefit -- in theory. Policies that promote free trade, open borders and international cooperation all drive economic globalization. They enable businesses to access lower priced raw materials and p...

Trunnis Goggins Trunnis earned a PhD in public policy administration with a concentration in nonprofit management from Walden University. He also earned an MBA from Anderson University and a BBA with a major in human resource management from Marian College. Dr. Goggins is a faculty facilitator of Ivy Tech’s business club and is the college’s representative for the City of Columbus multiethnic advocacy group CAMEO. Dr. Goggins is a veteran of the US Navy. Earning five Navy and Marine Corps Achievement medals. He works in his spare time to develop veteran programs designed to assist in the transition to civilian life by active duty soldiers, sailors, airmen, and Marines. He is married and has 9 children (one deceased) and one grandson. This morning you woke up and put on a polo shirt that read 'made in China' on the inside tag. You then went to your garage and got in a car that had parts that were manufactured in all parts of the world. You drove that car to the grocery store where you bought grapes that were grown in Chile, sugar from Jamaica, and curry from India. You did all of this because of globalization. In this lesson, you will learn the meaning of globalization, some of its positive and negative effects, and some real examples of globalization. Globalization has both positive and negative effects. On an individual level, globalization affects both the standard of life and the quality of life. On a business level, globalization affects an organization's product l...

Reciprocal Trade Agreements Act The days of the steep protective tariff effectively died under FDR. In 1934, Congress approved the Reciprocal Trade Agreements Act (RTAA) which allowed the president to negotiate bilateral trade agreements with other nations. The U.S. was prepared to liberalize trade agreements, and it encouraged other nations to do likewise. They were hesitant to do so, however, without a dedicated bilateral partner. Thus, the RTAA gave birth to an era of bilateral trade treaties. The U.S. currently has bilateral free trade agreements with 17 nations and is exploring agreements with three more. The Breton Woods conference also led to the creation of the International Monetary Fund (IMF). The IMF was intended to help nations that might have "balance of payments" trouble, such as Germany had paying reparations after World War I. Its inability to pay was another factor that led to World War II. Communication and Cultural Exchanges The United States has long sought globalization through communication. It established the Voice of America (VOA) radio network during the Cold War (again as an anti-Communist measure), but it continues in operation today. The U.S. State Department also sponsors a multitude of cultural exchange programs, and the Obama administration recently unveiled its International Strategy for Cyberspace, which is intended to keep the global Internet free, open, and interconnected. Jones, Steve. "What Is Globalization?" ThoughtCo, Apr. 5, 2023, th...