Globalization

Globalization

1. Or "International Integration"

2. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers.

3. Types of Globalization: (3 main types)

   • Economic, Cultural, Political
     • Economical : A worldwide economic system that permits easy movement of goods, production, capital, and resources (free trade facilitates this) Example: NAFTA, EU, Multinational corporations
     • Cultural: Merging or “watering down” of the world’s cultures e.g. food, entertainment, language, etc.
     • Political: countries are attempting to adopt similar political policies and styles of government in order to facilitate other forms of globalization. E.g. move to secular governments, free trade agreements, etc