Explain Nature of Globalisation.
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Globalization refers to the interconnectedness and interdependence of countries and peoples worldwide, driven by technological advancements, international trade, and cultural exchange. It encompasses economic, political, social, and cultural dimensions:
Economic Globalization: This involves the integration of national economies through trade, investment, and the flow of capital across borders, facilitated by free trade agreements and multinational corporations.
Political Globalization: It refers to the increasing influence of international organizations, global governance structures, and diplomatic relations that transcend national boundaries.
Social Globalization: This includes the exchange of ideas, values, and cultural norms among societies, facilitated by communication technologies and migration.
Globalization has both positive and negative impacts, fostering economic growth, technological innovation, and cultural diversity, while also exacerbating inequalities, environmental degradation, and social tensions.