Geography 1400F/G Lecture Notes - Lecture 3: Global Financial System, Economic Globalization, World Economy

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Globalization world wide coming of countries. Many commentators believe that globalization is transforming the human world from a collection of connected, single entity but often very different, places in which differences are greatly reduced. Some definitions: the increasing interconnectedness of people and places through converging processes of economic, political, and cultural change. How people are brought together from different parts in the world into one entity. It is a process involves different dimensions: the process of reducing barriers between countries and encouraging closer economic, social, and political interaction. How things can flow instantly from one place to another. Flow of goods, people, capital and services. Increasing integration between spaces: spaces being brought together, locations being brought together, people being brought together: whole world coming together. It refers to a process -> series of actions, changes of functions that bring results: geographical implications interconnection between spaces and people.

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