Globalization!

Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

Globalization is driven by the convergence of political, cultural and economic systems that ultimately promote — and often necessitate — increased interaction, integration and dependency amongst nations.

The more that disparate regions of the world become intertwined politically, culturally and economically, the more globalized the world becomes.

These international interactions and dependencies are enabled and accelerated by advances in technology, especially in transportation and telecommunications. In general, money, technology, materials and even people flow more swiftly across national boundaries today than they ever have in the past. The flow of knowledge, ideas and cultures is expediated through Internet communications.

There are three types of globalization:

1. Economic globalization. This type focuses on the unification and integration of international financial markets, as well as multinational corporations that have a significant influence on international markets.
2. Political globalization. This type deals mainly with policies designed to facilitate international trade and commerce. It also deals with the institutions that implement these policies, which can include national governments as well as international institutions, such as the International Monetary Fund and the World Trade Organization.
3. Cultural globalization. This type focuses on the social factors that cause cultures to converge — such as increased ease of communication and transportation, brought about by technology.