Introduction to History of Globalisation

Introduction to Globalisation Definitions: The word Globalisation is defined by the Cambridge Advanced Learner’s Dictionary as – (a) the increase of trade around the world, especially by large companies producing and trading goods in many different countries (b) when available goods and services, or social and cultural influences, gradually become similar in all parts of the world The term has been defined by The NCERT Social Science Text Book followed by the Central Board of Secondary Education in Class X as “Globalisation means integrating our economy with the world economy”. Further it states that “In this process, we become economically interdependent at the global or international level.” However, at a higher level the economists in leading international forums have defined Globalisation as followsWorld Health Organization : Globalization, or the increased interconnectedness and interdependence of people and countries, is generally understood to include two interrelated elements: the opening of borders to increasingly fast flows of goods, services, finance, people and ideas across international borders; and the changes in institutional and policy regimes at the international and national levels that facilitate or promote such flows. Pascal Lamy, Director-General, World Trade Organization (WTO) : a historical stage of accelerated expansion of market capitalism, like the one experienced in the 19th century with the industrial revolution. It is a fundamental transformation in societies because of the recent technological revolution which has led to a recombining of the economic and social forces on a new territorial dimension. International Forum on Globalization : The present worldwide drive toward a globalized economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments.1 Angshuman Hazarika

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