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International Business:
What Is The Concept Of Globalization ?
 Globalization as you may hear very often these days is simply the process of the world coming close, pushing down the barriers of borders across various fields like the economics, culture and the politics although most of the times this term refers to trade across nations. More..
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Meaning Of Globalization
Globalization, as you may hear very often these days, is simply the process by which the world is coming close, pushing down the barriers of borders across various fields like the economics, culture and the politics; although most often, this term refers to trade across nations. |
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Globalization has always existed since times man began to trade across nations the classic example being that of the famous Silk Road, which once connected China to Europe in the medieval era. Perhaps, it would not be wrong to point that the current trends in globalization seem very similar to the ones that existed before World War I back in 1914. But, the advancements in technology and reforms in the policies of countries to boost up their economy is making globalization the current trend of development across all the facets of daily life.
The Oxford Dictionary defines “globalization” as a “holistic view of human experience in education”. This term found its wide usage in the 1960s by the economists and later in 1980s in mainstream press.
Globalization has always been mired amidst varying interpretations probably owing to its wide scope of impact on the living of people. In the context of economy, this could be free trade between nations. Though began before World War I, the pace hampered from the onset of the war unto the second one when the countries had to clamp down on international trading to safeguard their own industries. Post Second World War, the countries across the globe have been open to break the barriers of borders, distrust and in their own interests of prosperity which significantly has reduced the chance any major wars between countries.
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Meaning Of Globalization
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