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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 can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the cost of endangering the countries’ indigenous population.
Jan Pieterse suggested that cultural globalization involves human integration and hybridization, arguing that it is possible to detect cultural mixing across continents and regions going back many centuries. [13] They refer, for example, to the movement of religious practices, language and culture brought by Spanish colonization of the Americas ...
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.
In essence, international business is a dynamic force driving economic growth, fostering global cooperation, and shaping the future of commerce on a worldwide scale. To conduct business overseas, multinational companies need to bridge separate national markets into one global marketplace. There are two macro-scale factors that underline the ...
Hyper-globalization is the dramatic change in the size, scope, and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization , cultural globalization , and political globalization .
You give your kids a set amount of cash every week, sometimes in exchange for completing certain tasks or chores, and your children learn to budget, save and value money. After all, while an ...
Glocalization or glocalisation (a portmanteau of globalization and localism) is the "simultaneous occurrence of both universalizing and particularizing tendencies in contemporary social, political, and economic systems". [1]