Globalization Is A Process Of Spreading Business Essay

GLOBALIZATION According to (Ghemawat)Globalization is a process of spreading business, technologies, ideas or philosophies all over the world and it gives an idea of how to inter markets, trends and culture globally which is unhampered by different time zones or different nations in other to get international integration. All the nations with their interconnected and interdependent economies come together and accept all the national problems as world problems in globalization. It is also a term that is associated with economic relations and cultural ties between different countries all over the world. According to (Kiely, 2001) It involves the breaking down of tariff barriers and allowing the free flow of raw materials, goods and resources between different countries. Trade and investments brings different nations together and also increase their interdependence at a very fast pace. For example, if petrol prices go up in oil-producing countries, it will result in a rise of petrol prices all over t he world. The world economy has become increasingly interdependent for a long time. However, in recent decades the process of globalization has enhanced and this is due to a variety of factors, but important ones are improved trade, increased labor and capital mobility and improved technology. The history of globalization is still an ongoing debate but (Thomas L. Friedman an American Journalist) and author states that the history of globalization is divided into three periods:Show MoreRelatedIs Globalization Destroying Our Society?1402 Words   |  6 Pages Is globalization destroying our society? Nowadays people have different opinions about globalization. It relies on different points of view on consequences of globalization process. 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