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Held and his co-writers' definition of globalization in that same book as "transformation in the spatial organization of social relations and transactions—assessed in terms of their extensity, intensity, velocity and impact—generating transcontinental or inter-regional flows" was called "probably the most widely-cited definition" in 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.
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.
Hyper-globalization is the dramatic change in the size, scope, and velocity of globalization that began in the late 1990s and that continues into the beginning of the 21st century. It covers all three main dimensions of economic globalization , cultural globalization , and political globalization .
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.
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 ...
The definition thus implies that there were pre-modern or traditional forms of globalism and globalization long before the driving force of capitalism sought to colonize every corner of the globe, for example, going back to the Roman Empire in the second century AD, and perhaps to the Greeks of the fifth-century BC. [6]
Salvatore Babones discussing sources used by scholars for studying political globalization noted the usefulness of Europa World Year Book for data on diplomatic relationships between countries, publications of International Institute for Strategic Studies such as The Military Balance for matters of military, and US government publication Patterns of Global Terrorism for matters of terrorism.