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, the term ―globalization‖ has quickly become one of the most fashionable buzzwords of contemporary
political and academic debate. In popular discourse, globalization often functions as little more than a
synonym for one or more of the following phenomena: the pursuit of classical liberal (or ―free market‖)
policies in the world economy (―economic liberalization‖), the growing dominance of western (or even
American) forms of political, economic, and cultural life (―westernization‖ or ―Americanization‖), the
proliferation of new information technologies (the ―Internet Revolution‖), as well as the notion that humanity
stands at the threshold of realizing one single unified community in which major sources of social conflict
have vanished (global integration‖; Globalization, 2010). Globalization is not a new phenomenon, with global
ecological changes, an ever more integrated global economy, and other global trends, political activity
increasingly takes place at the global level (Globalization, 2005). It is old but not very about more than 20
years scholars from a

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Globalisation is defined here as a set of economic and political structures and processes deriving from the changing character of the goods and assets that comprise the base of the international political economy—in particular, the increasing structural differentiation of those goods and assets.

Source:  Philip G. Cerny, “Globalization and the Changing Logic of Collective Action,” International Organization 49 ( 4, autumn 1995): 596.

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The term ‘globalisation’ is widely used to describe a variety of economic, cultural, social, and political changes that have shaped the world over the past 50-odd years, from the much-celebrated revolution in information technology to the diminishing of national and geo-political boundaries in an ever-expanding, transnational movement of goods, services, and capital. The increasing homogenisation of consumer tastes, the consolidation and expansion of corporate power, sharp increases in wealth and poverty, the ‘McDonaldisation’ of food and culture, and the growing ubiquity of liberal democratic ideas are all, in one way or another, attributed to globalisation. It is certainly one of the most contested topics in the social sciences, and – possibly because it is a complex and multifaceted phenomenon – it has been accorded multiple definitions, and a wide range of powers and effects have been ascribed to it.
Globalisation is also a deeply political phenomenon. It is shaped by complex negotiations and interactions between institutions of transnational capital (such as corporations), nation states, and international institutions charged with bringing coherence and order in an increasingly interdependent world. The economy does not exist outside the actions and choices of individual and collective actors, be they private corporations, sovereign governments, United Nations (UN) agencies, the WTO, or international financial institutions (IFIs) such as the World Bank and the International Monetary Fund (IMF). Globalisation is enabled through the facility of neo-liberal policies. An integral companion to globalisation is liberal democracy, which cloaks neo-liberal policy prescriptions in the language of individualised rights, liberties, and choice. Neo-liberal, so-called ‘democratic’ states are both convenient and necessary for capitalism to expand its frontiers and reach.
Shalmali, Guttal. (2010) Globalization, page 523-531. 18 November https://doi.org/10.1080/09614520701469492

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Globalization is the growth in world market where the producer(good and services) and customer is not in the same country and the sharing of cultural
( Boss , 2017)

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'Three Concepts of Globalization'
Author: Jens Bartelson
http://journals.sagepub.com/doi/pdf/10.1177/0268580900015002003

'Mapping the Global Condition: Globalization as the Central Concept'
Author: Roland Robertson
http://journals.sagepub.com/doi/pdf/10.1177/026327690007002002

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There is a widespread perception that international economic integration has been proceeding faster and further than ever before. A careful examination of the appropriate indicators reveals that such a dramatic account of recent developments applies only exceptionally (notably to China); the general rule is for steadily increasing trade shares and foreign investment, which still leaves the majority of workers employed in sheltered sectors. Differences in rates of social spending have survived pressures on countries to ‘race to the bottom’. Profitability has not converged, even in fiercely competitive manufacturing. Declines in absolute poverty and perhaps inequality still leave rising absolute differences between North and South, while expectations are probably converging faster.

(Andrew Glyn)
https://academic.oup.com/oxrep/article/20/1/1/406516

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This is the integration of economies, industries, markets, cultures and policy-making around the world.

Globalisation describes a process by which national and regional economies, societies, and cultures have become integrated through the global network of trade, communication, immigration and transportation.

lexicon.ft.com/term?term=globalisation

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What Is Globalization?

Globalization refers to the spread of the flow of financial products, goods, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade.

Key Takeaways

Understanding Globalization

Corporations gain a competitive advantage on multiple fronts through globalization. They can reduce operating costs by manufacturing abroad, buy raw materials more cheaply because of the reduction or removal of tariffs, and most of all, they gain access to millions of new consumers.

Globalization is a social, cultural, political, and legal phenomenon.

Socially, it leads to greater interaction among various populations.

Culturally, globalization represents the exchange of ideas, values, and artistic expression among cultures.

Globalization also represents a trend toward the development of a single world culture.

Politically, globalization has shifted attention to intergovernmental organizations like the United Nations (UN) and the World Trade Organization (WTO).

Legally, globalization has altered how international law is created and enforced.

On one hand, globalization has created new jobs and economic growth through the cross-border flow of goods, capital, and labor. On the other hand, this growth and job creation are not distributed evenly across industries or countries.

Specific industries in certain countries, such as textile manufacturing in the U.S. or corn farming in Mexico, have suffered severe disruption or outright collapse as a result of increased international competition.

Globalization's motives are idealistic, as well as opportunistic, but the development of a global free market has benefited large corporations based in the Western world. Its impact remains mixed for workers, cultures, and small businesses around the globe, in both developed and emerging nations.

The History of Globalization

Globalization is not a new concept. Traders traveled vast distances in ancient times to buy commodities that were rare and expensive for sale in their homelands. The Industrial Revolution brought advances in transportation and communication in the 19th century that eased trade across borders.

The think tank, Peterson Institute for International Economics (PIIE), states globalization stalled after World War I, and nations' moved toward protectionism as they launched import taxes to more closely guard their industries in the aftermath of the conflict. This trend continued through the Great Depression and World War II until the U.S. took on an instrumental role in reviving international trade.

One of the critical steps in the path to globalization came with the North American Free Trade Agreement (NAFTA), signed in 1993. One of NAFTA's many effects was to give American auto manufacturers the incentive to relocate a portion of their manufacturing to Mexico where they could save on the costs of labor. NAFTA was replaced in 2020 by the United States-Mexico-Canada Agreement (USMC).

Governments worldwide have integrated a free market economic system through fiscal policies and trade agreements over the last 20 years. The core of most trade agreements is the removal or reduction of tariffs.

This evolution of economic systems has increased industrialization and financial opportunities in many nations. Governments now focus on removing barriers to trade and promoting international commerce.

Pros and Cons of Globalization

Proponents of globalization believe it allows developing countries to catch up to industrialized nations through increased manufacturing, diversification, economic expansion, and improvements in standards of living.

Outsourcing by companies brings jobs and technology to developing countries, which helps them to grow their economies. Trade initiatives increase cross-border trading by removing supply-side and trade-related constraints.

Globalization has advanced social justice on an international scale as well, and advocates report that it has focused attention on human rights worldwide that might have otherwise been ignored on a large scale.

One clear result of globalization is that an economic downturn in one country can create a domino effect through its trade partners. For example, the 2008 financial crisis had a severe impact on Portugal, Ireland, Greece, and Spain. All these countries were members of the European Union, which had to step in to bail out debt-laden nations, which were thereafter known by the acronym PIIGS.

Globalization detractors argue that it has created a concentration of wealth and power in the hands of a small corporate elite that can gobble up smaller competitors around the globe.

Globalization has become a polarizing issue in the U.S. with the disappearance of entire industries to new locations abroad. It's seen as a major factor in the economic squeeze on the middle class.

For better and worse, globalization has also increased homogenization. Starbucks, Nike, and Gap dominate commercial space in many nations. The sheer size and reach of the U.S. have made the cultural exchange among nations largely a one-sided affair.

What Is Globalization and Why Is it Important?

In essence, globalization is about the world becoming increasingly interconnected. Countries today are more connected than ever before, due to factors such as air travel, containerized sea shipping, international trade agreements and legal treaties, and the Internet. In the world of business, globalization is associated with trends such as outsourcing, free trade, and international supply chains. Globalization is important as it increases the size of the global market, and allows more and different goods to be produced and sold for cheaper prices.

Globalization is also important because it is one of the most powerful forces affecting the modern world, so much so that it can be difficult to make sense of the world without understanding globalization. For example, many of the largest and most successful corporations in the world are in effect truly multinational organizations, with offices and supply chains stretched right across the world. These companies would not be able to exist if not for the complex network of trade routes, international legal agreements, and telecommunications infrastructure that were made possible through globalization. Important political developments, such as the ongoing trade conflict between the United States and China, are also directly related to globalization.

Is Globalization Good or Bad?

It depends. Proponents of globalization will point to the dramatic decline in poverty that has taken place throughout the world over the past several decades, which many economists attribute in part to increased trade and investment between nations. Similarly, they will argue that globalization has allowed products and services such as cellphones, airplanes, and information technology to be spread far more widely throughout the world. On the other hand, critics of globalization will point to the negative impact it has had on specific nations' industries, which might face increased competition from international firms. Globalization can also have negative environmental impacts due to economic development, industrialization, and international travel.

How Does Globalization Impact Society?

Globalization has had a large impact on societies around the world, leading to massive migrations from rural to industrial or urban areas, leading to the rapid growth of cities and trade hubs. While this has led to an overall increase in incomes and a higher standard of living in general, it has also led to problems of urbanization including crime, domestic violence, homelessness, and poverty. Concepts of national identity, culture, and consumption patterns also change as goods from around the world become increasingly available and at low prices. The competitiveness of global capitalism may also lead to more individualistic ideals that contradict the cultural orientations of certain, more collectivist societies.

What Is an Example of Globalization?

A simple example of globalization would be a car manufactured in the U.S. that sources parts from China, Japan, S. Korea, Sri Lanka, and South Africa. The car is then exported to Europe, where it is sold to a driver who fills the car's gas tank with gasoline refined from Saudi oil.

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Globalization in Business With History and Pros and Cons

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Globalization is the spread of products, investment, and technology across national borders and cultures.

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Despite several re-readings, I have been unable to extract a clear definition of ‘globalization’ from Axford's article. All the usual associations of the term are there: ‘the threat or promise of transformative change’, ‘complex processes which … serve to compress the world’, possible redefinition of ‘borders around territory and identities’, ‘greater interconnectedness’, ‘a transformation of social scientific knowledge’ (p. 172), and perhaps above all ‘a great breadth of ambition centred on the concepts of space and time’ (p. 179). Yet the concept itself is nowhere defined.Globalization has undermined the traditional definition of economic security that centered on economic vulnerability to other states. At the same time, globalization has produced a redefinition of economic security in light of the risks posed by cross-border networks of non-state actors and by the economic volatility of the new global environment. The relationship between economic globalization and undesirable economic and political outcomes must be specified precisely and assessed carefully, however. Judgements about economic security must weigh the effects of increased volatility introduced by globalization against the benefits of improved economic performance in the longer run. Institutions can offset economic insecurity through the provision of insurance, shoring up policy credibility, and guiding adaptation to the new environment. National institutions will remain central to the provision of economic security under conditions of globalization. Regional and global institutions can complement one another (and national institutions) in their alleviation of the new economic insecurity. Although some regional institutions drifted in the wake of the Asian financial crisis, new regional alternatives have emerged that promise to stake out new modalities of economic security.
Source: http://www.tandfonline.com/doi/abs/10.1080/0951274042000326032

Miles Kahler is Rohr Professor of Pacific International Relations at the Graduate School of International Relations and Pacific Studies (IR/PS), University of California, San Diego (UCSD). In 2002 he was named Founding Director of the Institute for International, Comparative, and Area Studies (IICAS) at UCSD. His publications include Governance in a Global Economy, co-edited with David Lake (Princeton University Press, 2003) and Leadership Selection in the Major Multilaterals

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Globalisation 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-beingin societies around the world.

http://www.globalization101.org/what-is-globalization/

Silicon Valley

© 2016 The Levin Institute - The State University of New York
Authorship, Copyright, and Citation Notice

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Globalization and its discontents in the Mena Region (Middle East and North Africa Region )

The great wave of globalization that welled up as the Cold War was ending and peaked with the 2008-09 global nancial crisis

has, after a brief recovery, been steadily ebbing away. Between 1985 and 2011, global trade grew at an annual average
rate of almost 6 percent, almost twice
the annual rate of global GDP growth of 3.1 percent. The rapid expansion of trade in goods and services, made possible by technological innovations such as contain- erization and the Internet, and a favorable global political environment, were the principal drivers of that rapid economic growth. Since 2011, annual global trade has grown less than GDP: 2-3 percent.1 Stagnation in global trade, as symbolized by the nal breakdown of the Doha Round of WTO negotiations in December 2015, has acted as a brake on world economic growth, and IMF forecasts do not antici- pate a reversal any time soon. Regional trade blocs are proliferating, while the global nancial infrastructure erected in the wake of World War II is facing in- creased pressure from emerging countries and even open competition from the Asian Infrastructure Investment Bank initiated by © 2016, The Author

China. Revanchist anti-globalization politi- cal forces are gathering strength in both the United States and Europe. A previous wave of globalization commenced with the rise of steam navigation and the telegraph in the 1870s and dramatically ended with the outbreak of World War I. It was not followed by another wave until the 1980s, suggesting that globalization crests have been intermittent, unpredictable, driven by the world’s political context and punctu- ated with extended periods of stagnat

Springborg, Robert, 2016. Globalization and its discontents in the Mena ReGion. Globalization and its discontents in the Mena ReGion, [Online]. Vol 2, 160. Available at: http://web.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=1&sid=1d9828ae-24ac-4416-95f2-6b19a160a551%40sessionmgr4006 [Accessed 23 January 2018].

*Dr. Springborg is a visiting professor in the Department of War Studies, King’s College, London, and a research fellow at the Italian Institute of International Affairs.

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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.

The goal of globalization is to provide organizations with a competitive advantage through lower operating costs and the gain of greater numbers of products, services and consumers.

Globalization’ is the process of corporate structuring that focuses a company’s core competency on a single worldwide market, creating growth and profit opportunities [...] It affects employees, customers, and suppliers. The fundamental precepts of the vision are free flow of commerce, labor and capital, and belief in the ability of an individual to significantly and favorably impact larger social and economic systems.

APA (American Psychological Assoc.)
Held, D. (2004). A Globalizing World? : Culture, Economics, Politics. London: Routledge.

MLA (Modern Language Assoc.)
Held, David. A Globalizing World? : Culture, Economics, Politics. vol. 2nd ed, Routledge, 2004. Introduction to the Social Sciences. EBSCOhost.

https://www.investopedia.com/terms/g/globalization.asp
http://www.globalization101.org/what-is-globalization/

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Globalization refers to the tendency of international trade, investments, information technology and outsourced manufacturing to weave the economies of diverse countries together. In business and finance, it primarily refers to theeconomic integrationof global markets, but the term is also used to describe socio-cultural integration among countries. Altogether, globalization has had the effect of markedly increasing bothinternational tradeand cultural exchange.

Globalization has been credited with helping shift wealth toless-developed countries.However, globalization is also often blamed for the loss of employment in developed nations, as corporations ship manufacturing facilities and  jobs overseas in order to save costs; critics say it weakens national sovereignty as well.

Read more: Globalization https://www.investopedia.com/terms/g/globalization.asp#ixzz550402IZH

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The term ‘globalisation’ is widely used to describe a variety of economic, cultural, social, and political changes that have shaped the world over the past 50-odd years. Because it is a complex and multifaceted phenomenon, globalisation has been credited with a wide range of powers and effects. Its proponents claim that it is both ‘natural’ and an inevitable outcome of technological progress, and creates positive economic and political convergences. Critics argue that globalisation is hegemonic and antagonistic to local and national economies.

Source:
Guttal, S. (2010), ‘Globalisation’, Development in Practice, 17 (4-5), 523-531 [Online]. Available at <http://www.tandfonline.com/doi/abs/10.1080/09614520701469492> [Last accessed 23 January 2018]

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A process through which national economies are becoming more open and thus more subject to supranational economic influences and less amenable to control.

A process of global integration in which diverse peoples, economies, cultures, and political processes are increasingly subjected to international influences .

Jean, D. (2008). Globalization.  51(4), 480-492 [Online]. Available at <http://journals.sagepub.com/doi/pdf/10.1177/0020872808090241> [Last accessed 23 January 2018]

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Globalization refers to the increase of trade and a situation which available goods and services become similar around the world. It is a process by which business or other organizations develop international or start operating on an international scale.

https://dictionary.cambridge.org/dictionary/english/globalization

https://www.princeton.edu/~pcglobal/conferences/upturned/Global%20Governance_Ocampo_final.pdf
Ocampo, J. (2010)

Journal of Globalization and Development, V1,Issue1, The Berkeley Electronic Press, [online]

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Definition:Globalization typically refers to the process by which different economies and societies become more closely
integrated, and concurrent with increasing worldwide globalization, there has been much research into its
consequences (Nilson, 2010, p.1191). Covering a wide range of distinct political, economic, and cultural
trends.
Globalization is not a new phenomenon, with global
ecological changes, an ever more integrated global economy, and other global trends, political activity
increasingly takes place at the global level (Globalization, 2005). It is old but not very about more than 20
years scholars from a variety of fields and coerces have been discussed in a vigorous debate about this social
phenomenon.

Ocampo.A.J (2010) Journal of Globalization and Development.1(1), article 6 [onine] Available at:https://www.princeton.edu/~pcglobal/conferences/upturned/Global%20Governance_Ocampo_final.pdf.

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It was the anti-globalisation movement that really put globalisation on the map. As a word it has existed since the 1960s, but the protests against this allegedly new process, which its opponents condemn as a way of ordering people's lives, brought globalisation out of the financial and academic worlds and into everyday current affairs jargon.

But that scarcely brings us nearer to what globalisation means. The phenomenon could be a great deal of different things, or perhaps multiple manifestations of one prevailing trend. It has become a buzzword that some will use to describe everything that is happening in the world today.

The dictionary definition is a great deal drier. Globalisation (n) is the "process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications" (Collins) or - from the US - to "make worldwide in scope or application" (Webster). The financial markets, however, are where the story begins.

In the late 1980s and early 1990s, the business model termed the "globalised" financial market came to be seen as an entity that could have more than just an economic impact on the parts of the world it touched.

Globalisation came to be seen as more than simply a way of doing business, or running financial markets - it became a process. From then on the word took on a life of its own. Centuries earlier, in a similar manner, the techniques of industrial manufacturing led to the changes associated with the process of industrialisation, as former country dwellers migrated to the cramped but booming industrial cities to tend the new machines.

So how does the globalised market work? It is modern communications that make it possible; for the British service sector to deal with its customers through a call centre in India, or for a sportswear manufacturer to design its products in Europe, make them in south-east Asia and sell them in north America.

But this is where the anti-globalisation side gets stuck in. If these practices replace domestic economic life with an economy that is heavily influenced or controlled from overseas, then the creation of a globalised economic model and the process of globalisation can also be seen as a surrender of power to the corporations, or a means of keeping poorer nations in their place.

Low-paid sweatshop workers, GM seed pressed on developing world farmers, selling off state-owned industry to qualify for IMF and World Bank loans and the increasing dominance of US and European corporate culture across the globe have come to symbolise globalisation for some of its critics.

The anti-globalisation movement is famously broad, encompassing environmentalists, anarchists, unionists, the hard left, some of the soft left, those campaigning for fair development in poorer countries and others who want to tear the whole thing down, in the same way that the original Luddites attacked mechanised spinning machines.

Not everyone agrees that globalisation is necessarily evil, or that globalised corporations are running the lives of individuals or are more powerful than nations. Some say that the spread of globalisation, free markets and free trade into the developing world is the best way to beat poverty - the only problem is that free markets and free trade do not yet truly exist.

Globalisation can be seen as a positive, negative or even marginal process. And regardless of whether it works for good or ill, globalisation's exact meaning will continue to be the subject of debate among those who oppose, support or simply observe it.

A recent report in the Press Gazette, the trade magazine for journalists, dealt with attempts by a BBC focus group to throw some light on how far television audiences understand news reports.

In one clip, economics editor Evan Davies referred to "globalisation - whatever that means". A panellist replied: "Well if he doesn't what it means, how the hell are we supposed to?"

https://www.theguardian.com/world/2002/oct/31/globalisation.simonjeffery

Simon Jeffery  is a chief publishing officer of ngmoco's Plus+ Publishing group