Globalization is a
process of interaction and integration among the people, companies, and
governments of different nations, a process driven by international trade and
investment and aided by information technology. This process has effects on the
environment, on culture, on political systems, on economic development and
prosperity, and on human physical well-being in societies around the world.
During the late 1980s a
new term entered popular discourse: globalization. Instead of clarifying issues
of world development the buzzword rather seemed to add confusion and misunderstandings.
There are at least five different dimensions of globalization that need to be
distinguished:
i.
economic
globalization
ii. political globalization
iii. common ecological
constraints
iv. cultural values and
institutions, and
v. globalization of
communication.
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