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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.
However, globalization failed to accelerate due to lack of long-distance interaction and technology. [5] The contemporary process of globalization likely occurred around the middle of the 19th century as increased capital and labor mobility coupled with decreased transport costs led to a smaller world. [6] The 13th century world-system
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...
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 ...
Techno-globalism is a social theory that aims to explain globalization using the spread of science and technology. [1] Through the spread of science and technology, different nations and societies come together to form a more open and knowledge-based group which is characterized as "globalized."
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.
The Information Age [a] is a historical period that began in the mid-20th century. It is characterized by a rapid shift from traditional industries, as established during the Industrial Revolution, to an economy centered on information technology. [2]
"First globalization" is a phrase used by economists to describe the world's first major period of globalization of trade and finance, which took place between 1870 and 1914. The "second globalization" began in 1944 and ended in 1971. This led to the third era of globalization, which began in 1989 and continues today. [1]