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Definition for Globalization

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Political Science

POLA83 Some Definitions 1. Oxford English Dictionary (OED) Globalization is “the act of globalizing“; from the noun “global“ meaning “pertaining to or involving the whole world“, “worldwide“; “universal“ . Oxford English Dictionary - 2nd edition [electronic edition]. Oxford, : Oxford University Press; c2000 [cited 2009 Dec 1]. 2. International Forum on Globalization (IFG) “Globalization is the present worldwide drive toward a globalized economic system dominated by supranational corporate trade and banking institutions that are not accountable to democratic processes or national governments“. International Forum on Globalization [cited 2009 Dec 31]. 3. World Trade Organization (WTO) Director-General, Pascal Lamy “Globalization can be defined as a historical stage of accelerated expansion of market capitalism, like the one experienced in the 19th century with the industrial revolution. It is a fundamental transformation in societies because of the recent technological revolution which has led to a recombining of the economic and social forces on a new territorial dimension“ . Pascal Lamy, Humanising globalization, Geneva, Switzerland [cited 2009 Dec 31]. e/sppl e/sppl16 e.htm 4. The World Bank “Globalization - the growing integration of economies and societies around the world...“ . World Bank [cited 2009 Dec 31]. 5. United Nations Poverty and Development Division “While the definition of globalization varies with the context of analysis, it generally refers to an increasing interaction across national boundaries that affects many aspects of life: economic, social, cultural and political. In the context of this study, in order to keep the analysis within reasonable bounds, the focus is only on the economic aspects, with particular emphasis on the role of ICT [information and communications technologies]. As such, globalization narrowly refers to the growing economic interdependence of countries worldwide. This includes increases in the international division of labour caused by swelling international flows of FBI [foreign-based investment], accompanied by an increasing volume and variety of cross-border transactions in goods and services, international capital flows, international migration and the more rapid and widespread diffusion of technology. This should not be construed to imply that social, cultural and other forms of globalization are unimportant, only that they are less germane to discussions of economic security and development“ . United Nations Poverty and Development Division. Economic and social survey of Asia and the Pacific, 1 POLA83 1999. New York: The United Nations; c1
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