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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.
World citizen badge. Global studies – interdisciplinary and multidisciplinary academic study of globalizing forces and trends. Global studies may include the investigation of one or more aspects of globalization, but tend to concentrate on how globalizing trends are redefining the relationships between states, organizations, societies, communities, and individuals, creating new challenges ...
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.
Jihad vs. McWorld: How Globalism and Tribalism Are Reshaping the World is a 1995 book by American political scientist Benjamin Barber, in which he puts forth a theory that describes the struggle between "McWorld" (globalization and the corporate control of the political process) and "Jihad" (Arabic term for "struggle", here modified to mean tradition and traditional values, in the form of ...
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 ).
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.