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Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
Economic globalization is the intensification and stretching of economic interrelations around the globe. [3] [4] It encompasses such things as the emergence of a new global economic order, the internationalization of trade and finance, the changing power of transnational corporations, and the enhanced role of international economic institutions.
Economic growth accelerated and poverty declined globally following the acceleration of globalization. Per capita GDP growth in the post-1980 globalizers accelerated from 1.4 percent a year in the 1960s and 2.9 percent a year in the 1970s to 3.5 percent in the 1980s and 5.0 percent in the 1990s.
English Philosopher John Gray described globalization as post-Cold War American triumphalism, and stated "global laissez-faire is an American project". [6] Gray points out that the American system of Globalization is past its prime and is no longer sustainable in the modern world.
The Lexus and the Olive Tree: Understanding Globalization is a 1999 book by Thomas L. Friedman that posits that the world is currently undergoing two struggles: the drive for prosperity and development, symbolized by the Lexus LS, and the desire to retain identity and traditions, symbolized by the olive tree.
The historical origins of globalization (also known as historical globalization) are the subject of ongoing debate. Though many scholars situate the origins of globalization in the modern era (around the 19th century ), others regard it as a phenomenon with a long history, dating back thousands of years (a concept known as archaic globalization ).
No Logo: Taking Aim at the Brand Bullies is a book by the Canadian author Naomi Klein.First published by Knopf Canada and Picador in December 1999, [1] [2] shortly after the 1999 Seattle WTO protests had generated media attention around such issues, it became one of the most influential books about the alter-globalization movement and an international bestseller.
The spread of English multilingualism is not isolated to the somewhat recent confines of globalization, but has a long colonial history as well. [12] Suhanthie Motha argues that centuries of widespread colonial domination, exploitation, and deliberate English spread have led to modern-day epistemologies about empire and language value. [ 12 ]