Globalization describes an ongoing process by which regional economies, societies, and cultures have become integrated through a globe spanning network of communication and execution. The term is sometimes used to refer specifically to economic globalization the integration of national economies into the international economy through trade, globalization is usually recognized as being driven by a combination of economic, technological. The term can also refer to the transnational circulation of ideas, or popular culture through acculturation.
An early description of globalization was penned by the American entrepreneur turned minister Charles Taze Russell who coined the term corporate giants in 1897. It was not until the 1960 that the term began to be widely used by economists and other social scientists. It had achieved widespread use in the mainstream press by the later half of the 1980s.
Since its inception, the concept of globalization has inspired numerous competing definitions and interpretations.
The United Nations has written that globalization is a widely used term that can be defined in a number of different ways.
When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labour, considerable barriers remain to the flow of labour. Globalization is not a new phenomenon. It began in the late nineteenth century, but its spread slowed during the period from the start of the First World War until the third quarter of the twentieth century.
This slowdown can be attributed to the inwardlooking policies pursued by a number of countries in order to protect their respective industries however, the pace of globalization picked up rapidly during the fourth quarter of the twentieth century.
Saskia Sassen writes that a good part of globalization consists of an enormous variety of micro processes that begin to denationalize what had been constructed as national whether policies, political subjectivities, urban spaces, or any other of a variety of dynamics and domains.
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