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Political Science
Waldemar Skrobacki

Week 1 GLOBALIZATION HAS MANY DEFINITIONS AND UNDERSTANDINGS Some Definitions 1 Oxford English Dictionary OEDGlobalization is the act of globalizing from the noun global meaning pertaining to or involving the whole world worldwide universalOxford English Dictionary2nd edition electronic edition OxfordOxford University Press c2000 cited 2009 Dec 1 httpwwwoedcom 2International Forum on Globalization IFGGlobalization 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 httpwwwifgorganalysishtm3World Trade Organization WTO DirectorGeneral Pascal LamyGlobalization 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 dimensionPascal Lamy Humanising globalization Geneva Switzerland cited 2009 Dec 31 httpwwwwtoorgenglishnewsespplesppl16ehtm4 The World BankGlobalizationthe growing integration of economies and societies around the worldWorld Bank cited 2009 Dec 31 httpwww1worldbankorgeconomicpolicyglobalization5United Nations Poverty and Development DivisionWhile 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 foreignbased investment accompanied by an increasing volume and variety of crossborder 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 1
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