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Explain me about globalisation am not able understanding it so... Please explain something about it

Dear Student,

Globalization is the result of advances in communication, transportation, and information technologies. It describes the growing economic, political, technological, and cultural linkages that connect individuals, communities, businesses, and governments around the world. Globalization also involves the growth of multinational corporations and transnational corporations. The international institutions that oversee world trade and finance play an increasingly important role in this era of globalization.

Globalization has both negative and positive aspects. Among the negative aspects are the rapid spread of diseases, illicit drugs, crime, terrorism, and uncontrolled migration. Among globalization’s benefits are a sharing of basic knowledge, technology, investments, resources, and ethical values.

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Globalisation means the interconnections in economic activities, trade and business that have led to the integration of manufacturing processes and markets around the different economies or countries of the world. It is a process that is an offshoot or result of the liberalisation of previously closed national economies and opening them up to international manufacturers like India. Domestic companies are very often pitted against MNC's as a result of this. Reduction of trade barriers like tariffs, import duties and licensing quotas have hastened this process by fuelling capital and investment movements. It has led to demand for skilled labour. It has manifested itself culturally as well through the circulation of ideas. Development of knowledge and technology is another important aspect of globalisation.
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