Question

Please do with apa format with refrence

1. What does it mean to say that globalization is a multidimensional phenomenon, and

why is this an important approach to adopt when seeking to understand this complex

set of processes? In your response, be sure to

(a) define globalization;

(b) define multidimensional;

(c) identify, describe and provide examples for three distinct dimensions of

globalization; and

(d) briefly explain why it is important to understand globalization as a

multidimensional phenomenon.

Answer 1

(a) globalization is a situation in which countries trade with each other. There is no barrier in trade and every country import and export goods freely. Globalization helps in increasing the economic growth of the countries by Increasing output, employment level and trade among the countries. Countries which are part of globalization are said it be evolving and developing.

(b) multidimensional is a phenomenon which has several dimensions or types. It segregate large in depth topics into smaller forms so that it can be understood better.

(c) 3 dimensions of globalization are:

Economic, Political and Cultural.

Economic: it deals with maintaining economic relationship with the countries across the globe. For example import and export of goods and services.

Political : it deals with maintaining political relationship with the countries across the globe. For example a global governance system is required to govern trade among countries  

Cultural: it deals with cultural flows with different countries. For example globalization include repsecting cultures of different countries and trade accordingly.

(d) globalization is a complex process and has to be understood in full depth in order to get benefitted from it. Globalization is multidimensional phenomenon because it deals with various aspects of an economy. It has 3 basic branches or dimension than help us in understanding globalization more clearly. It is very important for the countries to understand globalization as a multidimensional because it will help then in considering all the dimensions of globalization and making sure that all of these 3 dimensions are taken care of. Multidimensional phenomenon will help countries to address all the issues related to globalization and gain all the benefits of globalization.