Globalization Is The Integration Of The Political, Economic And Cultural Activities

781 Words Jun 10th, 2015 4 Pages
Globalisation is the "integration of the political, economic and cultural activities of geographically and/or nationally separated people" (US Department of Defence, 1999, p1) which results in the widespread economic interdependence of nations across continents through the exchange of: capital and goods; information and ideas; people and environmental substances. This massively increased scale of trade and cultural interchange has been aided by a variety of processes: Improvements in transportation - providing cost effective and speedy shipping and travel - means better mobility (Crash Course, 2012). Improvements in communication; technological changes such as fibre optic, cheaper satellites and increased availability of wireless communication has increased the flow of information to more geographically remote locations (University of Illinois, 2008). The removal of trade boundaries; governments have decreased tariffs and regulations on international trade - free trade (Steger, 2009); and the availability of low-cost labour - labour intensive industries can take advantage of cheaper labour costs and reduced legal restrictions in less economically developed countries (Wells, Shuey, and Kiely, 2001).
Since 1947 the total value of the world trade increased from $57 billion to $12.6 trillion in 2005 (Steger, 2009) With an increase in efforts of establishing a single global market through agreements such as NAFTA and GATT, Northern countries have assured the public that by…

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