Every day we hear it on the news, read it in the papers, overhear people talking about it… and in every single instance the word globalization seems to have a different meaning. So, what is globalization?
At political and economic level, globalization is the process of denationalization of markets, politics and legal systems, it is the rise of global economy. Many international organizations, governmental institutions and the whole academic world discuss the consequences of this political and economic restructuring on local economies, human welfare and environment.
At political and economic level, globalization is the process of denationalization of markets, politics and legal systems, it is the rise of global economy. Many international organizations, governmental institutions and the whole academic world discuss the consequences of this political and economic restructuring on local economies, human welfare and environment.
At a business level, the process of globalization is when companies decide to take part in the emerging global economy and establish themselves in foreign markets. They adapt their products or services to the linguistic and cultural requirements of different nations. Then, they might take advantage of the Internet revolution and establish a virtual presence on the international marketplace. More and more companies do their business online.
Some scientists agree that globalization has also cultural and ecological connotations, and that it is not only political or economic phenomenon. It means that countries all over the world become interdependent in many possible ways. There is probably no area of human activities left that is not affected by globalization. We listen to the same music, eat the same food, wear the same clothes, and decide ecological and war and peace issues together.
So each one of us is now more fully involved in a global economic system than were our parents or grandparents. There are probably no industries left that have much “natural protection” from international competition. Globalization in its core sense is the expansion of cross-border economic ties. Geographical distance does not matter any more.

