Question

what do you understand by globalisation explain in your own words​

Answer 1

Answer:

globalization means connecting one country's economy to the world's economy

Answer 2

Answer:

I would argue that globalization is an ideologically-based and driven concept and is essentially a meta-narrative that is used to justify the desires of some powerful vested interests. Basically, globalisation is an extension the belief that capitalist firms now produce the vast majority of goods and services produced in the world (i.e., the commodification thesis) and extends this by arguing that this process of commodification is increasingly taking place within an open world economy in which firms operate in a de-regulated and seamless global marketplace. In this globalization thesis, it is a specific type of commodified economy that is becoming hegemonic and stretching its tentacles wider and deeper across the globe, namely unregulated or ‘free market’ capitalism. Regulated national and international capitalism is increasingly being replaced by unregulated global capitalism composed of hyper-mobile and homeless capital operating in a borderless world. Globalisation, of course, is therefore a manifestation of a neo-liberal economic ideology.

This, however, refers only to economic globalisation. There are also similar arguments that can be made about cultural globalisation and political globalisation.

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