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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.
Therefore, though globalization is widely seen as an economic process, it has resulted in linguistic shifts on a global scale, including the recategorization of privileged languages, the commodification of multilingualism, the Englishization of the globalized workplace, and varied experiences of multilingualism along gendered lines.
Culture is a very broad concept and has many facets, but in the discussion on globalization, Steger means it to refer to “the symbolic construction, articulation, and dissemination of meaning.” Topics under this heading include discussion about the development of a global culture, or lack thereof, the role of the media in shaping our ...
This may happen at the expense of local companies that would have otherwise been able to dominate the domestic market, which would have spread profits around to a larger number of owners. On the other hand, globalized stock markets allow more people to invest internationally, and get a share of profits from companies they otherwise could not.
Elements unique to glocalization under this umbrella include the idea that diversity is the essence of social life, that not all differences are erased, history and culture operate autonomously to offer a sense of uniqueness to the experiences of groups (whether cultures, societies or nations), glocalization removes the fear that globalization ...
New technology and form of communication around the world help to integrate different cultures into each other. Transportation technologies and services along with mass migration and individual travel contribute to this form of globalization allowing for cross-cultural exchanges.
An early form of globalized economics and culture, known as archaic globalization, existed during the Hellenistic Age, when commercialized urban centers were focused around the axis of Greek culture over a wide range that stretched from India to Spain, with such cities as Alexandria, Athens, and Antioch at its center. Trade was widespread ...
Subramanian and Kessler argue that the world is now in an era of "hyper-globalization, where world trade has soared much more rapidly than world GDP".They note that in the period since the late 1990s, there was a surge in economic activity in the developing world.