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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]
Globalization is sometimes perceived as a cause of a phenomenon called the "race to the bottom" that implies that to minimize cost and increase delivery speed, businesses tend to locate operations in countries with the least stringent environmental and labor regulations. Pressure to do this is increased if competitors lower costs by the same means.
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.
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 ...
Roland Robertson (August 7, 1938 - April 29, 2022) was a sociologist and theorist of globalization who lectured at the University of Aberdeen in Scotland. Formerly, he was a professor of sociology at the University of Pittsburgh, and in 1988 he was the President of the Association for the Sociology of Religion.
Cultural globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two other being economic globalization and political globalization. [7] However, unlike economic and political globalization, cultural globalization has not been the subject of extensive research. [ 4 ]
International business is also known as globalization. International business encompasses a myriad of crucial elements vital for global economic integration and growth. At its core, it involves the exchange of goods, services, and capital across national borders.
Globalization is the process of interaction and integration among people, companies, and governments worldwide. Globalization may also refer to: Globalization, by Pitbull, 2014; Globalizations, a peer-reviewed academic journal; Internationalization and localization of software and websites; Globalize (JavaScript library)