In: Economics
What are three important developments in globalization?
Globalization has touched all spheres of life such as economy,education,technology, cultural phenomenon,social aspects etc.The term "global village" is also frequently used to highlight the significance of globalization.This term signifies that that revolution in electronic communication would unite the world.
Thus globalization refers to integration of various economies of world.As a result of globalization physical boundaries and political boundaries remained no barriers for business enterprise.Whole world becomes a global village.Globalization involves greater interaction and interdependence among the various nathions of global economy.