Globalization describes the growing interdependence of the world’s economies, cultures, and

populations, brought about by cross-border trade in goods and services, technology, and flows of
investment, people, and information. Countries have built economic partnerships to facilitate
these movements over many centuries. The term gained popularity after the Cold War in the
early 1990s, as these cooperative arrangements shaped modern everyday life.
Globalization is a term used to describe the increasing connectedness and interdependence of
world cultures and economies.
Globalization is a term used to describe how trade and technology have made the world into a
more connected and interdependent place. Globalization also captures in its scope the economic
and social changes that have come about as a result. It may be pictured as the threads of an
immense spider web formed over millennia, with the number and reach of these threads
increasing over time. People, money, material goods, ideas, and even disease and devastation
have traveled these silken strands and have done so in greater numbers and with greater speed
than ever in the present age.
Globalization means the speedup of movements and exchanges (of human beings, goods, and
services, capital, technologies or cultural practices) all over the planet. One of the effects of
globalization is that it promotes and increases interactions between different regions and
populations around the globe.

Globalization is the process by which ideas, knowledge, information, goods and services spread
around the world. In business, the term is used in an economic context to describe integrated
economies marked by free trade, the free flow of capital among countries and easy access to
foreign resources, including labor markets, to maximize returns and benefit for the common
good.

Globalization is driven by the convergence of cultural and economic systems. This convergence
promotes -- and in some cases necessitates -- increased interaction, integration and
interdependence among nations. The more countries and regions of the world become
intertwined politically, culturally and economically, the more globalized the world becomes.

 Economic globalization: is the development of trade systems within transnational actors

such as corporations or NGOs;
 Financial globalization: can be linked with the rise of a global financial system with
international financial exchanges and monetary exchanges. Stock markets, for instance,
are a great example of the financially connected global world since when one stock
market has a decline, it affects other markets negatively as well as the economy as a
whole.
 Cultural globalization: refers to the interpenetration of cultures which, as a
consequence, means nations adopt principles, beliefs, and costumes of other nations,
losing their unique culture to a unique, globalized supra-culture;
  Political globalization: the development and growing influence of international
organizations such as the UN or WHO means governmental action takes place at an
international level. There are other bodies operating a global level such as NGOs like
Doctors without borders or Oxfam;
 Sociological globalization: information moves almost in real-time, together with the
interconnection and interdependence of events and their consequences. People move all
the time too, mixing and integrating different societies;
 Technological globalization: the phenomenon by which millions of people are
interconnected thanks to the power of the digital world via platforms such as Facebook,
Instagram, Skype or Youtube.
 Geographic globalization: is the new organization and hierarchy of different regions of
the world that is constantly changing. Moreover, with transportation and flying made so
easy and affordable, apart from a few countries with demanding visas, it is possible to
travel the world without barely any restrictions;

Ecological globalization: accounts for the idea of considering planet Earth as a single global
entity – a common good all societies should protect since the weather affects everyone and we
are all protected by the same atmosphere. To this regard, it is often said that the poorest countries
that have been polluting the least will suffer the most from climate change.

There are three types of globalization.

 Economic globalization. This type of globalization focuses on the integration of

international financial markets and the coordination of financial exchange. Free trade
agreements, such as the North American Free Trade Agreement and the Trans-Pacific
Partnership, are examples of economic globalization. Multinational corporations, which
operate in two or more countries, play a large role in economic globalization.
 Political globalization. This type covers the national policies that bring countries
together politically, economically and culturally. International organizations such as
NATO and the United Nations are part of the political globalization effort.
 Cultural globalization. This aspect of globalization focuses in large part on the
technological and societal factors that are causing cultures to converge. These include
increased ease of communication, the pervasiveness of social media and access to faster
and better transportation.

Effects of globalization

The effects of globalization can be felt locally and globally, touching the lives of individuals as
well as the broader society in the following ways:

 Individuals. A variety of international influences affect ordinary people. Globalization

can make it easier for people to access raw materials, products and services. It can also
lower the prices they pay and their ability to travel to other countries.
 Communities. Globalization also changes how local and regional organizations,
businesses and economies function and interact. It affects who lives in communities,
 where they work, who they work for, their ability to move out of their community and
into one in another area, etc. Globalization also changes the way local cultures develop
within communities.
 Institutions. Multinational corporations, national governments and other organizations
such as colleges and universities are all affected by their country's approach to and
acceptance of globalization. Globalization affects the ability of a company to grow and
expand, a university's ability to diversify and grow its student body and a government's
ability to pursue specific economic policies.

Globalization has benefits that cover many different areas. It reciprocally developed economies
all over the world and increased cultural exchanges. It also allowed financial exchanges between
companies, changing the paradigm of work. Many people are nowadays citizens of the world.
The origin of goods became secondary and geographic distance is no longer a barrier for many
services to happen.

The Negative Effects of Globalization on Cultural Loss

Apart from all the benefits globalization has had on allowing cultural exchanges it also
homogenized the world’s cultures. That’s why specific cultural characteristics from some
countries are disappearing. From languages to traditions or even specific industries. That’s why
according to UNESCO, the mix between the benefits of globalization and the protection of local
culture’s uniqueness requires a careful approach.

The Economic Negative Effects of Globalization

Despite its benefits, the economic growth driven by globalization has not been done without
awakening criticism. The consequences of globalization are far from homogeneous: income
inequalities, disproportional wealth and trades that benefit parties differently. In the end, one of
the criticisms is that some actors (countries, companies, individuals) benefit more from the
phenomena of globalization, while others are sometimes perceived as the “losers” of
globalization. As a matter of fact, a recent report from Oxfam says that 82% of the world’s
generated wealth goes to 1% of the population.

The Negative Effects of Globalization on the Environment

Many critics have also pointed out that globalization has negative effects on the
environment. Thus, the massive development of transport that has been the basis of globalization
is also responsible for serious environmental problems such as greenhouse gas emissions, global
warming or air pollution.
At the same time, global economic growth and industrial productivity are both the driving force
and the major consequences of globalization. They also have big environmental consequences as
they contribute to the depletion of natural resources, deforestation and the destruction of
ecosystems and loss of biodiversity. The worldwide distribution of goods is also creating a big
garbage problem, especially on what concerns plastic pollution.

Some argue that globalization as a phenomenon began with the earliest human migratory routes,
or with Genghis Khan's invasions, or travel across the Silk Road. 2 Conquering empires
throughout history resulted in the sharing of ideas, mixing of cultures and people, and trade
across those conquered lands.

Theodore Levitt, a former professor at the Harvard Business School credited with coining the
term "globalization" and with championing the undervalued role of marketing in defining what
businesses should make and sell.

Divisions of time

Thomas L. Friedman divides the history of globalization into three periods: Globalization 1.0
(1492–1800), Globalization 2.0 (1800–2000) and Globalization 3.0 (2000–present). He states
that Globalization 1.0 involved the globalization of countries, Globalization 2.0 involved the
globalization of companies and Globalization 3.0 involves the globalization of individuals.

Klaus Schwab, founder and Executive Chairman of the World Economic Forum, Richard
Baldwin and Philippe Martin have divided the history of globalization into four eras:
Globalization 1.0 was before World War I, Globalization 2.0 was after World War II "when
trade in goods was combined with complementary Globalization 3.0, for which other terms in
use have included "New Globalization", hyperglobalization, the "global value chain revolution",
and the period of offshoring, refers to a more recent period of change in global economic
relationships, and Globalization 4.0 to current (2018 onwards) changes affecting services in
particular.

General Agreement on Tariffs and Trade (GATT), North American Free Trade Agreement
(NAFTA), the European Union (EU) has been hugely involved in eliminating tariffs between
member states, and the World Trade Organization. (APEC) (IMF) International Monetary Fund,
(WTO) Wurld Trade Organiztion

International Organizations

 Asia-Pacific Economic Cooperation (APEC)

 Asian Development Bank (ADB)
 Association of Southeast Asian Nations (ASEAN)
 Council of Europe (COE)
 European Investment Bank (EIB)
 Inter-American Development Bank (IDB)
 International Labour Organization (ILO)
 International Court of Justice (ICJ)
  Inter-Parliamentary Union (IPU)
 North Atlantic Treaty Organization (NATO)
 Organization of American States (OAS)
 Organization for Economic Cooperation and Development (OECD)
 Organization for Economic Cooperation and Development, Washington, D.C.
 Pan American Health Organization (PAHO)
 Population Reference Bureau (PRB)
 World Bank
 World Health Organization (WHO)
 World Trade Organization (WTO)
 United Nations

the world seen as a community in which people are connected by computers, television, etc.,
and all depend on one another.

 Marshall McLuhan, who was a Canadian thinker, coined the term 'global village' in the
1960s. It indicates the daily production and consumption of media, images, and content
by global audiences. McLuhan's views on the retribalization of Western society are
prefigured in American anthropologist Edward Sapir's 1933 article on Communication, in
which he wrote:
 "The multiplication of far-reaching techniques of communication has two important
results. In the first place, it increases the sheer radius of communication, so that for
certain purposes the whole civilized world is made the psychological equivalent of a
primitive tribe."
 McLuhan based his concept on the understanding of people moving towards involving
personal interactions worldwide and the consequences, as they ensue and operate
simultaneously with their causes. The term "global village" means all parts of the world
as they are being brought together by the internet and other electronic communication
interconnections. Other forms of communication such as Skype allows easier
communication and connection with others, especially in other countries. The new reality
of the digital age has implications for forming new socially meaningful structures within
the context of culture. Interchanging messages, stories, opinions, posts, and videos
through channels on telecommunication pathways can cause miscommunication.
Contemporary analysts question the causes of changes in community, through
speculating about whether or not the consequences of these changes could lead to some
new sociological structure. For example, the increased velocity of transactions has
fostered international density, making social networks a catalyst for social change.

History of globalization

Although many people consider globalization a twentieth-century phenomenon, the process has
been happening for millennia. Examples include the following:
 The Roman Empire. Going back to 600 B.C., the Roman Empire spread its economic
and governing systems through significant portions of the ancient world for centuries.
 Silk Road trade. These trade routes, which date from 130 B.C. to 1453 A.D.,
represented another wave of globalization. They brought merchants, goods and travelers
from China, through Central Asia and the Middle East, to Europe.
 Pre-World War I. European countries made significant investments overseas in the
decades before World War I. The period from 1870 to 1914 is called the golden age of
globalization.
 Post-World War II. The United States led the effort to create a global economic system
with a set of broadly accepted international rules. Multinational institutions were
established such as the United Nations, International Monetary Fund, World Bank and
World Trade Organization to promote international cooperation and free trade.