What is the exact meaning of globalization?
I do not know that there is an exact definition of globalization, but I can tell you what it is.
Globalization is the process by which countries come to do more trade with one another. In other words, we say globalization is happening when there gets to be more trade and more different kinds of trade between more countries.
Right now, there is a lot of globalization going on. Part of this is due to easy communication, like the internet, that allow companies in different countries to stay in contact with each other quite easily.
Two good examples of globalization are
- How so many of the things we use are made in China and exported to the US.
- How many jobs like customer service are done in India -- they communicate with us through telephone and internet connections.
Some scholars will argue that globalization started in 1492 (or even way earlier than that) while most will say that it is much more recent than that so there really is not an exact definition for globalization.
Globalization is the interaction and communication around the globe. I think that technology has made globalization a lot more relevant. In addition, technology has made globalization much more easier. Since the internet we have been able to communicate with people who live on the other side of the world in a matter of seconds. Before this it was much more difficult, but it still happened.
Globalization refers to situation marked by substantial degree of economic activities carried out across boundaries of different countries or nations. The nature of economic activities present in the kind globalization that is existing today, goes much beyond the simple import and export trading activities. Globalization today involves manufacturing as well as sourcing activities being carried out in multiple countries to manufacture products that may be distributed in many countries not involved in sourcing or manufacturing countries. Globalization also involves trans-national border ownership and entrepreneurship. Businesses and investors from one country may own and operate business, or provide various types of collaborative support in multiple countries.
One good example of globalization is provided by Toyota. It is a a company that originated in Japan, but now owns and operates subsidiary and joint venture companies in many different countries. It operated assembly plants in many different country, and typically plant in each country sources components from multiple countries, many of which may have no Toyota assembly plants. The Toyota cars manufactured are then sold throughout the world.
The world has become highly advanced economically, scientifically and socially. The countries of the world are interconnected in various ways for different purposes such as business, communication and technology. The procedure of interconnection of the different countries of the world is known as globalization.