What It Is

Globalization is the integration of national economies through trade, investment, capital flow, labor
migration, and technology.

How It Works

Globalization results from the removal of barriers between national economies to encourage the flow of
goods, services, capital, and labor. While the lowering or removal of tariffs and quotas (see General
Agreement on Trade and Tariffs, or GATT) that restrict free and open trade among nations has helped
globalize the world economy, transportation and communication technologies have had the strongest
impact on accelerating the pace of globalization.

Thomas L. Friedman describes the "flattening" of the world economy through globalized trade,
outsourcing, supply-chaining and political liberalization. The use of technologies allows businesses, such
as large multi-national corporations, to maintain customers, suppliers and even competitors on a world-
wide basis. The breakdown of businesses into components along its value-chain creates opportunities
for multiple businesses located at various spots on the globe to participate in the production of a single
good or service. This global network, even for a single enterprise, is part of globalization.

Several organizations have either been created or have evolved into key roles in the process of
globalization. The World Bank and the International Monetary Fund, for instance, deal primarily with
issues of free trade in developing economies and with international monetary policy, including debt and
trade balances between dbieloping and industrialized countries. The World Trade Organization, along
with the General Agreement on Trade and Tariffs (GATT), has been involved with removing trade
barriers and reducing the cost of trading.

Why It Matters

Increasingly, businesses must recognize that their success depends on efficiency and scalability – being
able to The definition of globalization on InvestingAnswersquickly mobilize global resources and reach
world markets. Globalization is the key to growing businesses in the 21st Century.

At the same time, globalization has led economic decision-making away from local control. As a result,
decisions about a company's plans, including expansions, relocations, or closings are increasingly made
independently of the considerations of local markets or local managers.

https://www.merriam-webster.com/dictionary/globalization
WHAT IT IS:

Globalization is the integration of national economies through trade, investment, capital flow, labor
migration, and technology.

HOW IT WORKS (EXAMPLE):

Globalization results from the removal of barriers between national economies to encourage the flow of
goods, services, capital, and labor. While the lowering or removal of tariffs and quotas (see General
Agreement on Trade and Tariffs, or GATT) that restrict free and open trade among nations has helped
globalize the world economy, transportation and communication technologies have had the strongest
impact on accelerating the pace of globalization.

Thomas L. Friedman describes the "flattening" of the world economy through globalized trade,
outsourcing, supply-chaining and political liberalization. The use of technologies allows businesses, such
as large multi-national corporations, to maintain customers, suppliers and even competitors on a world-
wide basis. The breakdown of businesses into components along its value-chain creates opportunities
for multiple businesses located at various spots on the globe to participate in the production of a single
good or service. This global network, even for a single enterprise, is part of globalization.

Several organizations have either been created or have evolved into key roles in the process of
globalization. The World Bank and the International Monetary Fund, for instance, deal primarily with
issues of free trade in developing economies and with international monetary policy, including debt and
trade balances between dbieloping and industrialized countries. The World Trade Organization, along
with the General Agreement on Trade and Tariffs (GATT), has been involved with removing trade
barriers and reducing the cost of trading.

WHY IT MATTERS:

Increasingly, businesses must recognize that their success depends on efficiency and scalability – being
able to The definition of globalization on Investing Answers quickly mobilize global resources and reach
world markets. Globalization is the key to growing businesses in the 21st Century.

At the same time, globalization has led economic decision-making away from local control. As a result,
decisions about a company's plans, including expansions, relocations, or closings are increasingly made
independently of the considerations of local markets or local managers.

http://www.investinganswers.com/financial-dictionary/economics/globalization-494
Globalization or globalisation is the trend of increasing interaction between people or companies on a
worldwide scale due to advances in transportation and communication technology, normally beginning
with the steamship and the telegraph in the early to mid-1800s. With increased interactions between
nation-states and individuals came the growth of international trade, ideas, and culture. Globalization is
primarily an economic process of integration that has social and cultural aspects, but conflicts and
diplomacy are also large parts of the history of globalization.

Economically, globalization involves goods and services, and the economic resources of capital,
technology, and data.[1][2] The steam locomotive, steamship, jet engine, and container ships are some
of the advances in the means of transport while the rise of the telegraph and its modern offspring, the
Internet and mobile phones show development in telecommunications infrastructure. All of these
improvements have been major factors in globalization and have generated further interdependence of
economic and cultural activities.

https://en.wikipedia.org/wiki/Globalization

What is 'Globalization'?

Globalization represents the global integration of international trade, investment, information

technology and cultures. Government policies designed to open economies domestically and
internationally to boost development in poorer countries and raise standards of living for their people
are what drive globalization. However, these policies have created an international free market that has
mainly benefited multinational corporations in the Western world to the detriment of smaller
businesses, cultures and common people.

The Broader Meaning of Globalization

Globalization is also a social, cultural, political and legal phenomenon. In social terms, globalization
represents greater interconnectedness among global populations. Culturally, globalization represents
the exchange of ideas and values among cultures, and even a trend toward the development of a single
world culture. Politically, globalization has shifted countries' political activities to the global level
through intergovernmental organizations like the United Nations and the World Trade Organization.
With regard to law, globalization has altered how international law is created and enforced.

https://www.investopedia.com/terms/g/globalization.asp

Globalization Of Education

Encyclopedia of Education

COPYRIGHT 2002 The Gale Group Inc.

GLOBALIZATION OF EDUCATION
In popular discourse, globalization is often synonymous with internationalization, referring to the
growing interconnectedness and interdependence of people and institutions throughout the world.
Although these terms have elements in common, they have taken on technical meanings that
distinguish them from each other and from common usage. Internationalization is the less theorized
term. Globalization, by contrast, has come to denote the complexities of interconnectedness, and
scholars have produced a large body of literature to explain what appear to be ineluctable worldwide
influences on local settings and responses to those influences.

Influences of a global scale touch aspects of everyday life. For example, structural adjustment policies
and international trading charters, such as the North American Free Trade Association (NAFTA) and the
Asia-Pacific Economic Cooperation (APEC), reduce barriers to commerce, ostensibly promote jobs, and
reduce the price of goods to consumers across nations. Yet they also shift support from "old" industries
to newer ones, creating dislocations and forcing some workers out of jobs, and have provoked large and
even violent demonstrations in several countries. The spread of democracy, too, is part of globalization,
giving more people access to the political processes that affect their lives, but also, in many places,
concealing deeply rooted socioeconomic inequities as well as areas of policy over which very few
individuals have a voice. Even organized international terrorism bred by Islamic fanaticism may be
viewed as an oppositional reaction–an effort at deglobalization –to the pervasiveness of Western
capitalism and secularism associated with globalization. Influences of globalization are multi-
dimensional, having large social, economic, and political implications.

A massive spread of education and of Western oriented norms of learning at all levels in the twentieth
century and the consequences of widely available schooling are a large part of the globalization process.
With regard to the role of schools, globalization has become a major topic of study, especially in the
field of comparative education, which applies historiographic and social scientific theories and methods
to international issues of education.

https://www.encyclopedia.com/education/encyclopedias-almanacs-transcripts-and-maps/globalization-
education

1. What is globalization ?

Globalization broadly refers to the expansion of global linkages, the organization of social life on a global
scale, and the growth of a global consciousness, hence to the consolidation of world society. Such an
ecumenical definition captures much of what the term commonly means, but its meaning is disputed. It
encompasses several large processes; definitions differ in what they emphasize. Globalization is
historically complex; definitions vary in the particular driving force they identify. The meaning of the
term is itself a topic in global discussion; it may refer to "real" processes, to ideas that justify them, or to
a way of thinking about them. The term is not neutral; definitions express different assessments of
global change. Among critics of capitalism and global inequality, globalization now has an especially
pejorative ring.

http://sociology.emory.edu/faculty/globalization/issues01.html