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The term "globalization" is used to mean the trend whereby countries are becoming more and more able to trade a wider variety of goods and services with one another.
Globalization refers to the current economic and business situation in the world where these activities are carried out across the national boundaries in large volumes in without being trade barriers put up by various countries. The globalization is the net impact of is the result of tendency on part of businesses to widen the scale of their operation globally, as well as by countries adopting policies and practices that promote and facilitate international trade and economic cooperation between different countries.
Eagle114 already asked my question.
"Globalization refers to situation marked by substantial degree of economic activities carried out across boundaries of different countries or nations."
So the short answer:
Globalization is trade.
Or, as Brettd has implied, globalization is more than exchange of money, capital, labor, and natural resources.
“Overall, the main idea is that there are getting to be more and more ways in which people in different countries are connected to one another.”
Globalization is trade, but it is up front and personal.
Wordprof suggests that rather than the movement of money, capital, labor, or natural resources, globalization is management's decision to move money, capital, labor, or natural resources.
So globalization is the decision to do rather than the doing itself.
According to Pohnpei397, globalization is a marketing strategy in which a firm sells the same product in many markets as opposed to regionalization or localization in which a firm sells different products in each markets.
So some of the confusion about the meaning of globalization come from the fact that different professions use the word in different ways. To business people globalization is a decision or a strategy. To economists it must be a fancy word for trade. To the rest of us it must be the effects of trade on all forms of culture, like language, religion, food, law, politics, and economy.
Social commentators have worried about shrinking time between geographic locations since at least the 1830’s when they encountered the telegraph and railroad. Henry Adams called it the “law of acceleration.” John Dewey called it the “new world.” Marshall McLuhan, one commentator of whom I never heard, called it the “global village.” Karl Marx called it “intercourse in every direction,” “universal interdependence of nations,” and “tools for the working class.” He seems to have expected globalization to destroy capitalism.
Until the 1970’s, none of the commentators used the word, globalization, to describe any of the characteristics now called globalization.
Defining globalization seems to me to have something in common with the blind men trying to describe the elephant. The list of definitions includes:
classical liberal economics
dominance of Western Culture
dominance of American Culture
proliferation of information technology
vanishing sources of social conflict
unification of cultures
annihilation of local and national boundaries
Two definitions, which I think deal with the basic idea are:
change in spatial and temporal contours of society
annihilation of time between locations
And this list excludes some definitions which business people may use like the ones proposed in previous posts by Wordprof and Popnpei397.
Or as a Hezbollah militant said, globalization is McDonaldization, but that is just a cute way to say Americanization or dominance of American culture.
What is the truest definition of Globalization?
Answer: Princess Diana's death.
Question: How come?
Answer: An English princess
with an Egyptian boyfriend
crashes in a French tunnel,
driving a German car
with a Dutch engine,
driven by a Belgian who was drunk
on Scottish whisky, (check the bottle before you change the spelling)
followed closely by Italian Paparazzi,
on Japanese motorcycles;
treated by an American doctor,
using Brazilian medicines.
This is sent to you by an American,
using Bill Gate's technology,
and you're probably reading this on your computer,
that uses Taiwanese chips,
and a Korean monitor,
assembled by Bangladeshi workers
in a Singapore plant,
transported by Indian lorry-drivers,
hijacked by Indonesians,
unloaded by Sicilian longshoremen,
and trucked to you by Mexican illegals.....
That, my friends, is Globalization
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