Globalization

Globalization

1. Globalization is a form of cultural integration that is usually defined in terms of economics but also encompasses cultural, biological, and political homogenization on a global scale

2. it describes the process by which dominant cultures exert social, political, and economic influence on other nations and cultures.

3. Economic globalization began when large cultures began to exchange resources with or attempt military conquest of other cultures.

4. governments have been viewed as the principal agents of globalization

5. Many social scientists adopt a neutral stance on globalization while attempting to elucidate both the benefits and the detriments of current and historical trends.

6. Understandig the discussion

   • Developing countries: Those countries classified by the World Bank as low- or middle-income nations.
   • Capitalism: An economic system in which the means of production are owned by individuals or companies rather than by the government
   • International Monetary Fund (IMF): An international organization of 189 countries, established in 1947 with the goal of promoting cooperation and exchange between nations and aiding the growth of international trade.
   • World Bank: A union of international organizations established in 1945 to provide aid to countries seeking to participate in international exchange and to reduce poverty around the world
     • Its member organizations are the International Development Association, the International Center for the Settlement of Investment Disputes, the International Finance Corporation, the International Bank for Reconstruction and Development, and the Multilateral Investment Guarantee Agency.