Globalization

What Is Globalization? Globalization is a bidding of interaction and integration among the people, companies, and governments of different nations, a process driven by planetary trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical social welfare in societies around the world. Globalization is not new, though. For thousands of years, peopleâ€"and, later, corporationsâ€" dupe been buying from and selling to each other in lands at great distances, such as through the famed Silk route across Central Asia that connected China and Europe during the pith Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalisation are equivalent to those prevailing before the outbreak of the First World struggle in 1914. But policy and technological developments of the past some decades have spurred increases in cross-border trade, investment, and migration so large that many observers reckon the world has entered a qualitatively new phase in its economic development.

Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 1999 flows of foreign investment nearly doubled, from $468 one million million to $827 billion. Distinguishing this current wave of globalization from earlier ones, author doubting Thomas Friedman has said that today globalization is farther, faster, cheaper, and deeper. This current wave of globalization has been driven by policies that have opened economies domestically and globally. In the years since the Second World War, and especially during the past twain decades, many governments have adopted free-market economic systems, vastly increase their own productive potential and creating myriad new opportunities for international trade and investment. Governments also have negotiated... If you want to get a full essay, order it on our website: Orderessay

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