define in 250 words globalisation
Answers
Globalization refers to a variety of events that are rapidly changing the world and the things which is creating the globalization is the global economy. We have wide screen TV's and cheap Chinese goods. The biggest advantage of globalization is that it gives you access of everything available in the world and at much affordable prices. Cheap foreign goods are bait to encourage citizens to accept and assist the process of globalization. Public policy and technology are the main triggers of Globalization advancement in information technology and the flow of information across the borders have empowered individuals to take control of their financial lives.
Technology has increased the ability to communicate internationally, closing the gap between different cultures. In sum globalization can be thought of as the widening, intensifying, speeding up and growing impact of worldwide communication. People can reach even the farthest areas now.
International trade has grown both absolutely and relatively in relation to national income. Markets may be global but regulation remains largely national. Differences in regulation are causing international friction.
Online shopping is also another example of globalization people order the stuff sitting in China and it can be delivered from America within a week. The world came a lot closer if we compare it with previous years, nothing is now out of reach now we can have access to everything just because of the Globalization in which the technology plays the vital role, this would not have been possible without technology.