what is globalisation

 what is globalisation

The tendency of investment funds and businesses to move beyond domestic and national markets to other markets around the globe, thereby increasing the interconnectedness of different markets. Globalization has had the effect of markedly increasing not only international trade, but also cultural exchange.

    1)Globalization can usefully be conceived as a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions, generating transcontinental or interregional flows and networks of activity, interaction and power.
    2)It is characterized by four types of change:
    - First, it involves a stretching of social, political and economic activities across political frontiers, regions and continents.
    - Second, it suggests the intensification, or the growing magnitude, of interconnectedness and flows of trade, investment, finance, migration, culture, etc.
    - Third, the growing extensity and intensity of global interconnectedness can be linked to a speeding up of global interactions and processes, as the evolution of world-wide systems of transport and communication increases the velocity of the diffusion of ideas, goods, information, capital, and people.
    - Fourth, the growing extensity, intensity and velocity of global interactions can be associated with their deepening impact such that the effects of distant events can be highly significant elsewhere and even the most local developments may come to have enormous global consequences. In this sense, the boundaries between domestic matters and global affairs can become increasingly blurred.

In sum, globalization can be thought of as the widening, intensifying, speeding up, and growing impact of world-wide interconnectedness. By conceiving of globalization in this way, it becomes possible to map empirically patterns of world-wide links and relations across all key domains of human activity, from the military to the cultural.

   3) From the pre-modern, through to the early modern (1500-1800), modern (19th to early 20th century), to the contemporary period, distinctive patterns of globalization can be identified in respect of their different systemic and organizational features - uneven as they often are. These patterns constitute distinctive historical forms of globalization. By comparing and contrasting these changing historical forms, it is possible to identify more precisely what is novel about the present epoch.
    4)Accordingly, to advance an account of globalization it is necessary to turn from a general concern with its conceptualization to an examination of the key domains of activity and interaction in and through which global processes evolve.