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Globalisation (or globalization) is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.[1][2] Advances in transportation and telecommunications infrastructure, including the rise of the telegraph and its posterity the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities.[3] Though several scholars place the origins of globalization in modern times, others trace its history long before the European age of discovery and voyages to the New World. Some even trace the origins to the third millennium BCE.[4][5] In the late 19th century and early 20th century, the connectedness of the world's economies and cultures grew very quickly. The term globalization has been increasing use since the mid-1980s and especially since the mid-1990s.[6] In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people and the dissemination of knowledge.[7] Further, environmental challenges such as climate change, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization.[8] Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. |
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