One thing is sure about globalization: it is happening now.
Globalization is:
· T The process of increasing interconnectedness
· T The growing integration of economies and societies around the world
· A An ongoing process by which regional economies, societies and cultures have become integrated through a globe-spanning network of exchange
· T The integration of national economies into the international economy
o Through trade, foreign direct investment, capital flows, migration, and technology
Globalization can also refer to the transnational spread of ideas, languages, and popular culture.
Globalization has both positive and negative impacts on development.
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