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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 (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.
In political science, the waves of democracy or waves of democratization are major surges of democracy that have occurred in history. Although the term appears at least as early as 1887, [1] it was popularized by Samuel P. Huntington, a political scientist at Harvard University, in his article published in the Journal of Democracy and further expounded in his 1991 book, The Third Wave ...
In 2023, the U.S. experienced a trade deficit of $773 billion, with China as its largest trade creditor.The U.S. trade deficit has steadily grown since 2009, regardless of which party held the ...
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.
At the end of the first wave a new wave of European colonization took shape and is known as the period of New Imperialism, which started in the late 19th-century and primarily focused on Africa and Asia, which is congruent with the period of classical modernity. Both periods are considered as the establishing periods of globalization and modernity.
While economic globalization has been in expanding since the emergence of trans-national trade, it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, and by developments in science ...
The authors define globalization as periods in which free markets predominate and countries place few, if any, limits on exports, immigration, imports, or information exchanges. Overall, they see globalization as a positive movement that improves the standard of living for all the people connected to it, from the richest to the poorest.