Definition of Globalization
Globalization is often defined as a combination of four major trends, including the expansion of international trade, financial flows (with FDI as the most important component of these flows), global communications (including transport) and movements of people (immigration). The same four factors have been present in the so-called “first wave of globalization” of 1870-1914, as they were in the post World War II period (Penalver, 2002).
In very broad terms, globalization is the worldwide integration of economic technological, political, cultural, and social aspects between countries often the term is used when referring to economic globalization. Economic globalization involves trading and investing between countries (Hamilton, 2009).
Definition of GlobalizationGlobalization is often defined as a combination of four major trends, including the expansion of international trade, financial flows (with FDI as the most important component of these flows), global communications (including transport) and movements of people (immigration). The same four factors have been present in the so-called “first wave of globalization” of 1870-1914, as they were in the post World War II period (Penalver, 2002).In very broad terms, globalization is the worldwide integration of economic technological, political, cultural, and social aspects between countries often the term is used when referring to economic globalization. Economic globalization involves trading and investing between countries (Hamilton, 2009).
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