Thus, globalization can be defined as the stretching of economic, political, and social relationships in space and time. A manufacturer assembling a product for a distant market, a country submitting to international law, and a language adopting a foreign loanword are all examples of globalization . What is Globalisation ? Globalisation is the process of integrating a country's economy with the global economy by removing restrictions on trade and capital flows. Simply put, globalisation is the process of interaction and union of individuals, organisations, and governments on a worldwide scale. We’ve got globalisation to thank for the availability of everyday items like avocados (cultural globalisation ), annual events like Black Friday ( globalisation of traditions), and even international cinema on Netflix (digital globalisation ) – but what is globalisation ? How does it impact our lives, and why is it so important? Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. Globalization is not new, though. For thousands of years, people—and, later, corporations ...
