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Globalization (North American spelling; also Oxford spelling [UK]) or globalisation (non-Oxford British spelling; see spelling differences) is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide.
The historical origins of globalization (also known as historical globalization) are the subject of ongoing debate. Though many scholars situate the origins of globalization in the modern era (around the 19th century ), others regard it as a phenomenon with a long history, dating back thousands of years (a concept known as archaic globalization ).
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 ...
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.
Therefore, though globalization is widely seen as an economic process, it has resulted in linguistic shifts on a global scale, including the recategorization of privileged languages, the commodification of multilingualism, the Englishization of the globalized workplace, and varied experiences of multilingualism along gendered lines.
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.
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.
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 ]
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