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What is Globalization

What is Globalization "Globalization refers to a set of processes that increaseingly make the parts of the world interdependently integrated.It is a historical process, the result of human innovation and technological progress. It refers to increasing integration of economies around the world, particularly through trade and financial flows."(Robert and Hite page 16) Many people view globalization in different ways. Some view it as a process that is beneficial a key to future world economic development and also inevitable and irreversible. Some view it with hostility, even fear, believing that it increases inequality within and between nations, threatens employment and living standards. Globalization offers extensive opportunities for truly worldwide development but it is not progressing evenly.Some countries are becoming integrated into the global economy more quickly than others. "What globalization means in structural terms , then is the increas in the availalable modes of organization: transnational, international, macro-regional, national, micro-regional, municipal, local. This ladder of adminstrative levels is being criss-crossed by functional networks of corporations, international organizations and non-governmental organizations, as well as by proffessionals and computer users." (Lencher and Boli page103) The term globalization has come into common usage since the 1980s, reflecting technological advances that have made it easier and quicker to complete international transactions both trade and financial flows. It refers to an extension beyound national borders of the same market forces that have operated for centuries at all levels of human economic activity Bibliography:

Word Count: 237