Globalization
Globalization
Globalization (pronunciation: /ˌɡloʊbəlɪˈzeɪʃən/) is a complex and multifaceted phenomenon that has had profound effects on societies, economies, and cultures worldwide.
Etymology
The term "globalization" is derived from the word "global," which originates from the Late Latin word "globus," meaning "sphere" or "ball." The suffix "-ization" is used to denote the process or action of making something global.
Definition
Globalization refers to the process by which businesses or other organizations develop international influence or start operating on an international scale. It involves the integration and interaction among people, companies, and governments worldwide.
Related Terms
- International Trade: The exchange of goods and services across international borders or territories.
- Cultural Exchange: The exchange of ideas, customs, and social behavior of different cultures.
- Economic Integration: The unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade.
- Multinational Corporation: A corporate organization that owns or controls the production of goods or services in at least one country other than its home country.
Impact of Globalization
Globalization has numerous impacts on different aspects of life. It has led to increased Interdependence among nations, increased Cultural Diffusion, and the spread of technology and information. However, it has also been associated with increased income inequality, cultural homogenization, and environmental degradation.
See Also
External links
- Medical encyclopedia article on Globalization
- Wikipedia's article - Globalization
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