Globalization

Globalization  is the process of uniformity and homogeneity in which the whole world shrinks and becomes one. Globalization is the association of a country's  industries with international corporations or multinational corporations that transact goods  and services in other countries outside the borders of one country. Globalization is the flow of processes and management of economic transactions across political boundaries of nations. This process of globalization started with the removal of restrictions on international economic transactions, there was openness in the field of trade and towards foreign investment.

While liberal developed countries are supportive of the flow of capital, they are obstructing the effect of labor and technology. Apart from this, the gap in income between nations and people is increasing due to globalization or globalization.The meaning of globalization is that with the passage of time, new words are being introduced. Modern means of communication, rapid means of transport, changing political dimension of the world have converted mutual distances into proximity. Increasing closeness in the countries of the world, cohesion, new alliances, mutual dialogue to solve the problems,working together for the economic, social and scientific technological progress of the countries, coordination with neighboring countries, regional organization, world wide organization Thus globalization became a very popular word in today's world. Economists have defined globalization in different ways.According to Smith, “Globalization is the process by which relatively social relations acquire the qualities of distance less and border less”.Herod Thathel has defined globalization in these words - "The process which involves the uneven and differential process of moving the international economy into hypothetical integrated global economy, has been named as globalization."Globalization is not limited to economic process only, it is a continuous process of bringing closer economic, social, cultural, business relations among the residents of each part of the world. This process favors economic relations based on free trade, mutual freedom among the countries of the world. The process of globalization is possible by making rules and providing relaxation in restrictions for the people living in every country of the world to establish a relationship based on social homogeneity and economic integration with the people of each other country.