Cultural, Economical, Political, and Social.
Introduction
What is globalization??
Globalization is all about coming close of the people round the world. It is to reduce the distances among the people of the globe. It is to work together for the one world. It is about the development and nourishment of global village concept. It is about the closeness of each and everything round the globe.
Globalization in its literal sense is the process of transformation of local or regional phenomena into global ones. It can be described as a process by which the people of the world are unified into a single society and function together.
This process is a combination of economic, technological, sociocultural and political forces. Globalization is often used to refer to economic globalization, that is, integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.
The United Nations ESCWA has written that globalization "is a widely-used term that can be defined in a number of different ways. When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, and services and labor...although considerable barriers remain to the flow of labor...Globalization is not a new phenomenon. It began in the late nineteenth century, but its spread slowed during the period from the start of the First World War until the third quarter of the twentieth century. This slowdown can be attributed to the inward looking policies pursued by a number of countries in order to protect their respective industries...The pace of globalization picked up rapidly during the fourth quarter of the twentieth century...”
Modern globalization
Globalization, since World War II, is largely the result of planning by politicians to breakdown borders hampering trade to increase prosperity and interdependence...