Definition of Globalization:
= worldwide exchange on an economic, technological und cultural level, the world is gradually becoming unified
- regional economies, societies and cultures have become connected through a global network of political ideas, communication, transport and trade
- often seen as an unstoppable process affecting people all around the globe (developed as well as developing countries)
- includes:
a) increasing mobility of people
b) steady flow of money and goods between international markets and production sites
c) global spread and clash ideas and values
d) rapid distribution of information through media
Eras of globalization:
- Click on the MindMap below to expand this point.
