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Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
Critics of this idea contend that it rests upon an over-broad definition of globalization. Even as early as the Prehistoric period, the roots of modern globalization could be found. Territorial expansion by our ancestors to all five continents was a critical component in establishing globalization.
Early modern period – The chronological limits of this period are open to debate. It emerges from the Late Middle Ages (c. 1500), demarcated by historians as beginning with the fall of Constantinople in 1453, in forms such as the Italian Renaissance in the West, the Ming dynasty in the East, and the rise of the Aztecs in the New World.
A global recession is a recession that affects many countries around the world—that is, a period of global economic slowdown or declining economic output. Definitions [ edit ]
The terms "Global North" and "Global South" are not strictly geographical, and are not "an image of the world divided by the equator, separating richer countries from their poorer counterparts." [4] Rather, geography should be more readily understood as economic and migratory, in the "wider context of globalization or global capitalism." [4]
Proto-globalization was a period of reconciling the governments and traditional systems of individual nations, world regions, and religions with the "new world order" of global trade, imperialism and political alliances, what historian A. G. Hopkins called "the product of the contemporary world and the product of distant past." [1]
For example, the Cretaceous–Paleogene extinction event, marks the lower boundary of the Paleogene System/Period and thus the boundary between the Cretaceous and Paleogene systems/periods. For divisions prior to the Cryogenian , arbitrary numeric boundary definitions ( Global Standard Stratigraphic Ages , GSSAs) are used to divide geologic time.
It has also been known by many other names, such as Altithermal, Climatic Optimum, Holocene Megathermal, Holocene Optimum, Holocene Thermal Maximum, Holocene global thermal maximum, Hypsithermal, and Mid-Holocene Warm Period. The warm period was followed by a gradual decline, of about 0.1 to 0.3 °C per millennium, until about two centuries ago.