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1. What is GLOBALIZATION?

- Globalization is a process of interaction and integration among the people, companies, and governments of
different nations, a process driven by international trade and investment and aided by information technology.
This process has effects on the environment, on culture, on political systems, on economic development and
prosperity, and on human physical well-being in societies around the world.
- Globalization is the interconnectedness and interdependence established among countries around the world.

2. What are the concepts under globalization?


- Technology has been the other principal driver of globalization. Advances in information technology, in
particular, have dramatically transformed economic life. Information technologies have given all sorts of
individual economic actors—consumers, investors, businesses—valuable new tools for identifying and
pursuing economic opportunities, including faster and more informed analyses of economic trends around the
world, easy transfers of assets, and collaboration with far-flung partners.
- Globalization can be linked to the local, the national and the regional. On the one hand, a connection is made
between social and economic relationships and networks, organized on a local and / or national, on the other
hand, it connects social and economic relationships and networks crystallized on wider scale the regional and
global interactions.
- Globalization can refer to those spatial-temporal processes of change, which constitutes the fundament of the
transformation of human concerns in an organization, linking together and expanding human activity across
regions and continents. Without referring to the expansion in space of the connections, there can be no clear
and coherent formulation of the term globalization. A satisfactory definition of globalization must address
each of these items: extension, intensity, celerity and impact.

3. Give some ADVANTAGES of globalization.


- As one of the most crucial advantages, globalization has led to the generation of numerous employment
opportunities. Companies are moving towards the developing countries to acquire labor force
- With numerous educational institutions around the globe, one can move out from the home country for better
opportunities elsewhere.
- Every single information is easily accessible from almost every corner of the world. Circulation of
information is no longer a tedious task and can happen in seconds. The Internet has significantly affected the
global economy, thereby providing direct access to information and products.
- Globalization has promoted tourism to great heights. International trade among different countries also helps
in increasing the number of tourists that visit different places around the world.
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4. Give some DISADVANTAGES of globalization.
- Globalization has given rise to more health risks and presents new threats and challenges for epidemics. For
example, the dawn of HIV/AIDS.
- With large number of people moving into and out of a country, the culture takes a backseat. People may adapt
to the culture of the resident country. They tend to follow the foreign culture more, forgetting their own roots.
- It is said that the rich are getting richer while the poor are getting poorer. In the real sense, globalization has
not been able to reduce poverty.
References:
- http://www.globalization101.org/what-is-globalization/
- https://www.slideshare.net/edzmhar0186/globalizationppt
- http://www.globalization101.org/what-is-globalization/
- http://www.revistadestatistica.ro/suplimente/2012/4/srrs4_2012a22.pdf\