Definition of Globalization
Definition of Globalization
[pic][pic][pic][pic]Different Viewpoints About Definition Of Economic Globalization
Definition of globalization is a vast as well as a debatable topic. Contemporary writers have viewed this word from their own unique perspective. At the same time various factors including but not limited to culture, society values, benefits and side effects have been instrumental in shaping the various forms of definitions of this word.
Globalization generally refers to the process of integrating regional economies and of course cultures by means of communication, trade and transportation. Commonly the word is often replaced by the term economic globalization. But this term is rather shallow as it only describes the fusion of world economies due to increasing ties and trade.
Another popular synonym is internationalization. The words are often seen as being used interchangeably but there is a good distinction between the two when it comes to their meanings. Internationalization is basically referring to the importance which international trade, treaties and pacts are holding due to the presumed immobility of capital and labor. The definition of this term has historical roots in the trade across Asia. At that time it was primarily carried out through Indian Ocean. At a later stage, probably at the end of nineteenth century, the term was again coined by Charles taze Russell. But the application of this word in corporate sector, and its possible definitions was not widely used till the start of cold war.
For the understanding of a common man the word is basically referring to the process by which the connectivity and interdependence of the worlds markets increases exponentially. The increase is caused primarily by the reduction in tariff barriers, improved communication and direct investments making its way to countries with cheap human resources. The most commonly used definition comes straight from the Oxford English dictionary. Here the word
[pic][pic][pic][pic]Different Viewpoints About Definition Of Economic Globalization
Definition of globalization is a vast as well as a debatable topic. Contemporary writers have viewed this word from their own unique perspective. At the same time various factors including but not limited to culture, society values, benefits and side effects have been instrumental in shaping the various forms of definitions of this word.
Globalization generally refers to the process of integrating regional economies and of course cultures by means of communication, trade and transportation. Commonly the word is often replaced by the term economic globalization. But this term is rather shallow as it only describes the fusion of world economies due to increasing ties and trade.
Another popular synonym is internationalization. The words are often seen as being used interchangeably but there is a good distinction between the two when it comes to their meanings. Internationalization is basically referring to the importance which international trade, treaties and pacts are holding due to the presumed immobility of capital and labor. The definition of this term has historical roots in the trade across Asia. At that time it was primarily carried out through Indian Ocean. At a later stage, probably at the end of nineteenth century, the term was again coined by Charles taze Russell. But the application of this word in corporate sector, and its possible definitions was not widely used till the start of cold war.
For the understanding of a common man the word is basically referring to the process by which the connectivity and interdependence of the worlds markets increases exponentially. The increase is caused primarily by the reduction in tariff barriers, improved communication and direct investments making its way to countries with cheap human resources. The most commonly used definition comes straight from the Oxford English dictionary. Here the word