Search results
Results from the WOW.Com Content Network
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.
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 period of Proto-globalization roughly spans the years between 1600 and 1800. It was largely shaped in this era by the operations of colonialism. The Modern period of globalization covers from the 19th century until the present time. Imperialism and industrialization have figured largely in shaping modern globalizing forces and trends.
In economics, the new international division of labour (NIDL) is an outcome of globalization.The term was coined by theorists seeking to explain the spatial shift of manufacturing industries from advanced capitalist countries to developing countries—an ongoing geographic reorganisation of production, which finds its origins in ideas about a global division of labor. [1]
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 ]
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).
Globalization has largely displaced the North–South divide as the theoretical underpinning of the development efforts of international institutions such as the IMF, World Bank, WTO, and various United Nations affiliated agencies, though these groups differ in their perceptions of the relationship between globalization and inequality. [8]
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.