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Globalisation neglects environmental degradation and

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challenge the oppressive nature of states and other bureaucratic governance frameworks. Globalisation neglects environmental degradation and equitable gender relations. Globalization, as a concept, refers both to the "shrinking" of the world and the increased consciousness of the world as a whole. It is a term used to describe the changes in societies and the world economy that are the result of dramatically increased cross-border trade, investment, and cultural exchange. The processes and actions to which the concept of globalization now refers have been proceeding, with some interruptions, for many centuries, but only in relatively recent times has globalization become a main focus of discussion. The current or recently-past epoch of globalization has been dominated by the nation-state , national economies, and national cultural identities. The new form of globalization is an interconnected world and global mass culture, often referred to as a "global village."
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In specifically economic contexts, globalization is often used in characterizing processes underway in the areas of financial markets, production, and investment. Even more narrowly, the term is used to refer almost exclusively to the effects of trade, particularly trade liberalization or "free trade." Between 1910 and 1950, a series of political and economic upheavals dramatically reduced the volume and importance of international trade flows. Globalization trends reversed beginning with World War I and continuing until the end of World War II , when the Bretton Woods institutions were created (that is, the International Monetary Fund , or IMF, World Bank , and the General Agreement on Tariffs and Trade, later re-organized into the World Trade Organization, or WTO). In the post-World War II environment, fostered by international economic institutions and rebuilding programs, international trade and investment dramatically expanded. By the 1970s, the effects of the flow of trade and investment became increasingly visible, both in terms of the benefits and the disruptive effects. As with all human endeavors, globalization processes are strongly affected by the values and motivation of the people involved in the process. In theory, globalization should benefit all people because it can produce greater overall economic value. Achieving an equitable distribution of the added value, however, would require the people who dominate the market to embody the virtue of sacrificing themselves to serve the higher purpose of the good of all. However, the legacy of colonialism , which causes a lingering arrogance among the powers in the Group of Eight and creates suspicion in the developing world, means that for many people, globalization is feared and resisted as a negative. Corporatist culture is seen as trampling upon local values and local economies. The Western, secular value system of the major economic actors is seen as a neo-colonial affront to people with non-Western religious and cultural values.
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