What is Globalization

The term globalization refers to a series of social, cultural, economic, political and technological phenomena that, in general, consist of the increasingly important interdependence between countries. The International Monetary Fund defines globalization as “…a growing economic interdependence of all the countries of the world, caused by the increase in the volume and variety of cross-border transactions of goods and services, as well as international capital flows, to the time than the accelerated spread of technology.”

Current globalization is characterized by the absence (or easy overcoming) of economic borders. This drives the circulation of goods, services and capital, which in turn generates changes in various aspects of daily life such as politics and culture. As for information, which thanks to the internet circulates quickly and easily, (in addition to easy access to it), it plays a crucial role in this process.

Globalization as a process began from the very beginning of humanity. When two or more social groups exchanged information, goods, services and knowledge, globalization was cemented. However, it was not until more recent years that this phenomenon grew exponentially. Thanks to technology, globalization is a reality of everyday life in practically everyone.

Leave a Reply

Your email address will not be published. Required fields are marked *


Back to top button