Globalization Is A Multidimensional Process

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Globalisation “Globalization is a multidimensional process. Although it is often understood primarily in economic terms, linked to the establishment of an interlocking global economy, its social and cultural implications are no less important.” (Andrew Haywood, 2011). Many argue that globalisation in itself has a number of positive and negative points. It is said that recently Globalisation has led to rise of “deterritorialisation” (Scholte, 2005). Theory emphasises that social processes may no longer be mapped with a distinct territorial place or border. This is said to be influenced by significant improvements in technology, communication and transport. Another major point argued by David Harvey is that these improvements have not only changed our understanding of space, but also changed our perception of time. Time compression theory indicates that due to almost instantaneous information flows, communication is no longer constrained by time and space. Economic Globalisation links to the notion to International Business development. We may see that these technological advancements played a major role in establishment of MNCs and generally allowing to numerous local or national companies to compete internationally. We may observe a link of how Liberalism, which emphasises the notion of freedom, cooperation and progress - contributes to the Globalisation process that we observe today. Cooperation between nations and businesses, sharing of knowledge and peaceful politics
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