SO GOOD AFTERNOON EVERYONE I AM CHRIS JAY MARCELLANO
AND TODAY WE WILL DISCUSS THE FOUR DIVISIONS OF
GLOBALIZATION.
Globalization is the process by which ideas, knowledge, information,
goods and services spread around the world. In business, the term is
used in an economic context to describe integrated economies
marked by free trade, the free flow of capital among countries and
easy access to foreign resources, including labor markets, to
maximize returns and benefit for the common good.
Economic Globalization
Economic Globalization Economic globalization refers to the intensification
and stretching of economic interrelations across the globe. In addition to
the more traditional factors of production, labour and land, economic
globalization includes gigantic flows of capital and technology that stimulate
trade in goods and services. New forms of economic products have
developed, such as hedge funds and derivatives, which enable greater
flows of investment and capital from one national economy to another.
Hence, Economic globalization mainly focuses on the integration of
international financial markets and the coordination of financial exchange.
Free trade agreements, such the North American Free Trade Agreement
and the Trans-Pacific Partnership are examples of economic globalization
Political Globalization
Political globalization refers to the expansion and acceleration of political
relations and interdependencies across world-time and world-space. These
processes raise important issues pertaining to the politics of the modern
nation-state and the international states-system. Specifically, these
processes challenge traditional conceptions of the principle of state
sovereignty, highlight the growing impact of intergovernmental
organizations like the United Nations that raise questions concerning future
prospects for regional and global governance.
