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Globalization (or globalisation—see spelling differences) is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Put in simple terms, globalization refers to processes that increase world-wide exchanges of national and cultural resources. Advances in transportation and telecommunications infrastructure, including the rise of the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities.

Humans have interacted over long distances for thousands of years. The overland Silk Road that connected Asia, Africa, and Europe is a good example of the transformative power of translocal exchange that existed in the "Old World". Philosophy, religion, language, the arts, and other aspects of culture spread and mixed as nations exchanged products and ideas. In the 15th and 16th centuries, Europeans made important discoveries in their exploration of the oceans, including the start of transatlantic travel to the "New World" of the Americas. Global movement of people, goods, and ideas expanded significantly in the following centuries. Early in the 19th century, the development of new forms of transportation (such as the steamship and railroads) and telecommunications that "compressed" time and space allowed for increasingly rapid rates of global interchange. In the 20th century, road vehicles, intermodal transport, and airlines made transportation even faster. The advent of electronic communications, most notably mobile phones and the Internet, connected billions of people in new ways by the beginning of the 21st century.

The term globalization has been in increasing use since the mid-1980s and especially since the mid-1990s. 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. Further, environmental challenges such as climate change, cross-boundary water and air pollution, and over-fishing of the ocean are linked with globalization. Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment.

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Jagdish N. Bhagwati Professor Jagdish pa Columbia University talar vid invigningen av Nordiskt globaliseringsforum i Riksgransen 2008-04-02
Jagdish Natwarlal Bhagwati
B. 1934

Jagdish Bhagwati is an American economist and professor of economics and law at Columbia University. He is well known for his research in international trade and for his advocacy of free trade. Bhagwati was born into a Gujarati family in the Bombay Presidency during the British Raj, and graduated from Sydenham College, Mumbai. He then went with "senior status" to read over two years for the BA in Economics at Cambridge (as did colleague and Nobel Laureate Amartya Sen who was at Trinity College) where he was a member of St. John's College, Cambridge and received the degree in 1956. Bhagwati's experience at St John's College joined that of other eminent Indian economists including Sir Partha Dasgupta and Indian Prime Minister Manmohan Singh. He received the Ph.D. in Economics from the Massachusetts Institute of Technology in 1967. He has received a number of awards and, in 2006, was a member of the Panel of Eminent Persons who reviewed the work of the United Nations Conference on Trade and Development (UNCTAD). In early 2010, Bhagwati joined the advisory board of the institute for migrant rights, Cianjur - Indonesia.

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Coca-Cola does Chinese New Year

A Coca-Cola stall outside the Grand Gateway 66 shopping mall in Xujiahui, Shanghai. Cultural globalization has increased cross-cultural contacts but may be accompanied by a decrease in the uniqueness of once-isolated communities.

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Of the factors influencing the duration of economic growth in both developed and developing countries, income equality has a more beneficial impact than trade openness, sound political institutions, and foreign investment.
Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital. Whereas globalization is centered around the rapid development of science and technology and increasing cross-border division of labor, economic globalization is propelled by the rapid growing significance of information in all types of productive activities and marketization, and the advance of science and technologies. Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon.

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