. what is globalization? explain the basic dimensions of globalization.
Answers
Globalization is the increasing interaction of people through the growth of the international flow of money, ideas and culture. Globalization is primarily an economic process of integration which has social and cultural aspects as well. It involves goods and services, and the economic resources of capital, technology and data. Advances in the means of transport (such as the steam locomotive, steamship, jet engine, and container ships) and in telecommunications infrastructure (including the rise of the telegraph and its modern offspring, the Internet and mobile phones) have been major factors in globalization, generating further interdependence of economic and cultural activities.
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe
- Globalization fuels inequality. Globalization makes the rich richer and the poor poorer. ...
- Globalization leads to reduced public revenues. ...
- Globalization destroys the environment. ...
- Globalization leaves us vulnerable to infectious diseases. ...
- Globalization creates a race to the bottom.