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Globalization can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the cost of endangering the countries’ indigenous population.
While globalization is primarily an economic process of interaction and integration, it is also closely linked to social and cultural dynamics. Additionally, disputes and international diplomacy have played significant roles in the history and evolution of globalization, continuing to shape its modern form.
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 ...
In the post-World War II period, states sacrificed globalization while embracing democracy at home and national autonomy. [7] The trilemma suggests that the backlash against globalization in the last few decades is rooted in a desire to reclaim democracy and national autonomy, even if it undermines economic integration. [7]
Hirst and Thompson note that globalization is an important topic, not only in economics, but also in the social, political and managerial sciences. There is much talk of the "global village" and it is often argued that a truly global economy has emerged, or is in the process of emerging.
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 ...
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 term globalization has a variety of meanings, but in economic terms it refers to the move that is taking place in the direction of complete mobility of capital and labour and their products, so that the world's economies are on the way to becoming totally integrated. The driving forces of the process are reductions in politically imposed ...