Read the following definitions of globalization by various scholars. Explain its meaning 1. "Globalization can be defined as a historical stage of accelerated expansion of market capitalism, like the one experiencedn the 19th century with the industrial evolution. It is a fundamental transformation in societies because of the recent technological revolution which has led to a recombining of the economic and social forces on aanew territorial dimension. 2. "Globalization means closer integration of national economies through trade and financial flows as well as cross-border migration of people. As national economies "open up" and lower their external barriers, they become more exposed - and more vulnerable - to global forces and influences." 3. "Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries."
Read the following definitions of globalization by various scholars. Explain its meaning
1. "Globalization can be defined as a historical stage of accelerated expansion of market capitalism, like the one experiencedn the 19th century with the industrial evolution. It is a fundamental transformation in societies because of the recent technological revolution which has led to a recombining of the economic and social forces on aanew territorial dimension.
2. "Globalization means closer integration of national
economies through trade and financial flows as well as cross-border migration of people. As national economies "open up" and lower their external barriers, they become more exposed - and more vulnerable - to global forces and influences."
3. "Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Countries have built economic partnerships to facilitate these movements over many centuries."
4. "Generally defined as the network of connections of organisations and peoples are across national, geographic and cultural borders and boundaries. These global networks are creating a shrinking world where local differences and national boundaries are being subsumed into global identities. Within the field of tourism, globalization is also viewed in terms of the revolutions in telecommunications, finance and transport that are key factors currently influencing the nature and pace of growth of tourism in developing nations."
5. "Globalisation is a geo-spatial process of growing
interdependence and convergence, in which worldwide or pan-regional (e.g. European) spheres of action are enhanced. In contrast,"internationalisation" is best understood simply as relations across borders between nations, or institutions situated within national systems: i.e. inter-national relations. Note the potentially transformative impacts of globalisation as compared to internationalisation. Globalisation is a dynamic process that draws the local, national and global dimensions more closely together (Marginson and Rhoades, 2002) and in often unexpected ways."
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