Globalization

Globalization is the integration of national economies into the international economy through measures such as: trade, foreign direct investment, capital flows, migration, and the spread of technology, so that the people of the world are unified into a single society and function together.

This is also referred to as the ‘flattening of the globe’. As globalization combines economic, technological, sociocultural and political forces, it will continue to affect the world along different dimension, such as: industrial, financial, economic, political, cultural and social.