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Economic globalization is the interconnectivity of world economies and the interdependency of internal and external supply chains. [49] With the advancement of science and technology, the possibility of economic globalization is enabled even more. Economic factors have been defined by global boundaries rather than national.
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.
Cultural globalization, however, is much more difficult to capture using quantitative data, because it is difficult to find easily verifiable data of the flow of ideas, opinions, and fashions. One attempt to do so was the Cultural Globalization Index, proposed by Randolph Kluver and Wayne Fu in 2004, and initially published by Foreign Policy ...
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 ...
The concept of global cultural flows was introduced by anthropologist Arjun Appadurai in his essay "Disjuncture and difference in the global cultural economy" (1990), in which he argues that people ought to reconsider the Binary oppositions that were imposed through colonialism, such as those of ‘global’ vs. ‘local’, south vs. north, and metropolitan vs. non-metropolitan.
McDonald's is commonly seen as a symbol of globalization, often called McDonaldization of global society. Globalization has strongly influenced sports. [91] For example, the modern Olympic Games has athletes from more than 200 nations participating in a variety of competitions. [92]
Jihad vs. McWorld: How Globalism and Tribalism Are Reshaping the World is a 1995 book by American political scientist Benjamin Barber, in which he puts forth a theory that describes the struggle between "McWorld" (globalization and the corporate control of the political process) and "Jihad" (Arabic term for "struggle", here modified to mean tradition and traditional values, in the form of ...
Although globalization has promised an improved standard of living and economic development, it has been heavily criticized for its production of negative effects. Globalization is not simply an economic project, but it also heavily influences the country environmentally, politically, and socially as well.