Globalization and Its Types

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Introduction Globalization can be described as interaction among the countries in the world with the purpose of developing the global economy. It can also be referred to as integration of economies as well as societies within the entire world. It entails technological, economical, cultural and political exchanges that are facilitated through advances in transportation, infrastructure and communication. Globalization process has increased connectivity and interdependence of the markets and businesses in the world. The process has dramatically developed faster in the last two decades since technological advances has given people opportunity to communicate, travel, as well as carry out their businesses internationally easily. Currently, most driving forces to this rapid process tend to be advances in rise of the internet and telecommunications infrastructure. In other words, as economies turn to be connected to other economies, they have widened the opportunity and increased competition as well. Globalization has received backup from the pro-globalization lobby arguing that globalization has brought and will still bring much increased opportunities for nearly everybody, and always an environment where there is an increased competition tend to be a valuable thing because it makes agents of production more efficient. Examples of these prominent pro-globalization organizations are the World Economic Forum and World Trade Organization. Being a pan-government entity ,the World
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