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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]
Globalization (or globalisation) – processes of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. [1] Advances in transportation and telecommunications infrastructure, including the rise of the Internet , are major factors in globalization, generating further interdependence ...
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 is a process that encompasses the causes, courses, and consequences of transnational and transcultural integration of human and non-human activities. India had the distinction of being the world's largest economy till the end of the Mughal era, as it accounted for about 32.9% share of world GDP and about 17% of the world population.
Although globalization has affected us economically and politically, it has also affected us socially on a wider scale. With the inequalities issues, such as race, ethnic and class systems, social inequalities play a part within those categories. [11] The past half-century has witnessed a trend towards globalization.
The 2020 study finds that economic globalization has decreased security of global supply chains with most countries exhibiting greater exposure to resource risks via international trade – mainly from remote production sources – and that diversifying trading partners is unlikely to help nations and sectors to reduce these or to improve their ...
The Stolper–Samuelson theorem, [10] which is often described as a corollary of the H–O theorem, was an early example. In its most general form it states that if the price of a good rises (falls) then the price of the factor used intensively in that industry will also rise (fall) while the price of the other factor will fall (rise).
Globalization, the flow of information, goods, capital, and people across political and geographic boundaries, allows infectious diseases to rapidly spread around the world, while also allowing the alleviation of factors such as hunger and poverty, which are key determinants of global health. [1]