Globalization And The 21st Century

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Globalisation is the new buzzword that has come to dominate the world and has made the world today, “a global village” as the world getting smaller and smaller. It is the process where the economies of various countries in the world become more and more connected to one another. Globalisation is an inevitable phenomenon in human life that has been bringing the world closer through the exchange of goods, information, knowledge and culture. Over the last few decades, globalization has become much faster and more dramatic because of unprecedented advancements in technology, communication, science, industry and transport. We are in the 21st century with globalization in its blooming stage. It is actually integration among the people and interaction between companies of different governments and nations. Globalisation is depended upon international trade, investment and information technology. Also globalization effects culture, human-physical well being and most importantly economic developments around the world. Globalisation started around 1980’s which made international trade and financial growth easier and quicker for countries all over the world. Globalisation has led to economic rise not only to developed countries but to the developing countries as well. Moreover it has brought new opportunities to developing countries and developed nations. Although globalisation comes with maximum benefits but it has some certain down falls too. Financial condition of developing
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