FALLSEM2015-16_CP0925_16-Jul-2015_RM01_Globalization-concept-of-glibalization - Globalization Globalization refers to the free cross-border movement of

FALLSEM2015-16_CP0925_16-Jul-2015_RM01_Globalization-concept-of-glibalization

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Globalization Globalization refers to the free cross-border movement of goods, services, capital, information and people. It is the process of creating networks of connections among actors at multi- continental distances, mediated through a variety of flows including people, information and ideas, capital ad goods. Concept of Globalization: 1. Economic Globalization: The term globalization is widely used in business circles and economics to describe the increasing internationalization of market of goods and services, the financial system, corporations and industries, technology and competition. In the globalized economy, distances and national boundaries have substantially diminished with the removal of obstacles to market access. Foreign Direct Investment is accompanied by transfer of technology and know – how, along with the movement of capital (equity, International loans, repatriation of profits, interest etc) generating exports of goods and services from the investor countries.
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