Globalization Part 1 Provides examples of globalization, provides various definitions of globalization and describes the role of big companies.
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1. Examples- War, recession (World wide), immigration, epidemics (H1N1 starts in Mexico and
goes global), production (goods are shipped from China to consumers in North America).
2. What is globalization then?
The expansion of social relations, activities across traditional borders and regions
More specifically ‘a process of the widening of the markets for consumption, investment
and production on a global scale
Globalization in the form of cross-border movement in: Commodities, capital (FDI-
Foreign Direct investment), currency (finance loans), people, ideas/information
So: Distant localities of different countries/ continents are influenced by events
occurring miles away
Key terms- integration and interdependance
3. Three aspects of globalization
Velocity (speeding up)
Of economic transactions across national borders and world regions
4. Role of big companies or global monopoly capital (MNCs/ TNCs)
Sales vs. GDP of nation-states