Globalization (globalisation) in its literal sense is the process of transformation of local or regional phenomena into global ones. It can be described as a process by which the people of the world are unified into a single society and function together.
This process is a combination of economic, technological, sociocultural and political forces.

When did it begin? It is connected with the following historical events:
The first great expansion of European capitalism took place in the 16th century, following the first circumnavigation of the earth in 1519 to 1521.
There was a big expansion in world trade and investment in the late nineteenth century. This was brought to a halt by the First World War and the bout of anti-free trade protectionism that led to the Great Depression in 1930. Some see this period as an interruption to the process of globalization commenced in the late 19th century.
A sense that the world was united was generated by the establishment of the International Date Line and world time zones, together with the near global adoption of the Gregorian calendar between 1875 and 1925. During that period, international standards were also agreed for telegraphy and signaling.
The end of the Second World War brought another great expansion of capitalism with the development of multinational companies interested in producing and selling in the domestic markets of nations around the world. The emancipation of colonies created a new world order. Air travel and the development of international communications enhanced the progress of international business.
The fall of the Berlin Wall and the collapse of the Soviet Union ended the cold war between the forces of capitalism and socialism with capitalism triumphant. The development of the internet made possible the organization of business on a global scale with greater facility than ever before.


Globalization influences all spheres of our life: culture, business, trade, politics, environment and even our mentality. It connects different countries and nations, makes their cooperation easier. It makes everything and everyone similar or even identical.

Globalization is often used to refer to economic globalization

Looking specifically at economic globalization, demonstrates that it can be measured in different ways. These center around the four main economic flows that characterize globalization:

·       Goods and services, e.g. exports plus imports as a proportion of national income or per capita of population

·       Labor/people, e.g. net migration rates; inward or outward migration flows, weighted by population

·       Capital, e.g. inward or outward direct investment as a proportion of national income or per head of population

Technology, e.g. international research & development flows; proportion of populations (and rates of change thereof) using particular inventions (especially 'factor-neutral' technological advances such as the telephone, motorcar, broadband)
Some Advantages       

1. Increased free trade between nations

2. Increased liquidity of capital allowing investors in developed nations to invest in developing        

     nations

3.Corporations have greater flexibility to operate across borders

4.Global mass media ties the world together

5.Increased flow of communications allows vital information to be shared between individuals  

   and corporations around the world

6.Greater ease and speed of transportation for goods and people

7.Reduction of cultural barriers increases the global village effect

8.Spread of democratic ideals to developed nations

9.Greater interdependence of nation-states

10.Reduction of likelihood of war between developed nations

11/Increases in environmental protection in developed nations
1.Increased flow of skilled and non-skilled jobs from developed to developing nations as    

   corporations seek out the cheapest labor

2.Increased likelihood of economic disruptions in one nation effecting all nations

Corporate influence of nation-states far exceeds that of civil society organizations and average individuals

3.Threat that control of world media by a handful of corporations will limit cultural expression

4.Greater chance of reactions for globalization being violent in an attempt to preserve cultural heritage

5.Greater risk of diseases being transported unintentionally between nations

6.Spread of a materialistic lifestyle and attitude that sees consumption as the path to prosperity

7.International bodies like the World Trade Organization infringe on national and individual sovereignty

8.Increase in the chances of civil war within developing countries and open war between developing countries as they vie for resources

9.Decreases in environmental integrity as polluting corporations take advantage of weak regulatory rules in developing countries