What is globalization ?
* The shift toward a more integrated and interdependent world economy , or the process which the people of the world are unified into a single society .
* Integration of national economies into the international economy through trade , foreign direct investment , capital flows , migration , and spread of technology .
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History of globalization :
* The word ‘’Globalization’’ has been used by ...view middle of the document...
* Various social scientists have tried to demonstrate continuity between contemporary trends of globalization and the earlier periods.
* The first era of globalization (in the fullest sense) during the 19th century was the rapid growth of international trade between the European imperial powers , the European colonies and the Unites States.
* After the World War 2 , globalization was restarted and was driven by major advances in technology , which led to lower trading costs.
* The phenomena that is globalization is here to stay and its impact will be felt for many years to come.
* Due to the increasing integration of economies , problems in one country could have spill over effects on the global economy.
* Globalization indicates the health of a country
* Criteria for measuring globalization :
* Political engagement: Foreign aid , treaties , organizations and peacekeeping .
* Personal contact : Number of internet users , hosts , and secure servers .
* Economic integration : International trade and foreign direct investment