GLOBALISATION:-

 It is the conscious and active process of expansion of

business and trade across the borders of all the states.
Colonisation was a process for expansion of territories, vis a vis,
trade and business. It has got monopoly. E.g. – Britain

 It stands for expanding cross border facilities and economic

linkages. It is done with a view to secure an integration of
economic interest and activities of the people living in all
parts of the world.
 The objective of making the world a truly inter-related,
inter-dependent, developed global village governs the on-
going process of globalisation.
 Glob. is the process of securing real, social, economic,
political, and cultural transformation of the world into a
global community. It is considered to be essential means for
securing sustainable development of all the people of the
world.
 It seeks to transform the existing international economic
system into a unified system of global economies.
DEFINITIONS-
1. According to Baylis and Smith,
“Globalisation is the process whereby social relations
acquire relatively distance-less and border-less qualities.”
2. According to S. Herman,
“Glob. is both an active process of corporate expansion
across borders and a structure of cross-border facilities
and economic linkages that has been steadily growing and
changing.
FEATURES OF GLOBALISATION-
 i. Liberalisation.
ii. Free trade.
iii. Globalisation of economic activity.
iv. Liberalisation of import and export.
v. Privatisation.
vi. Increased collaboration.
vii. Economic reforms.
Critical aspects/Criticism of globalisation:
Critics argue that-
1) The process of globalisation brings more gains for the rich at
the cost of the poor.
2) It is a source of repeated economic crisis.
3) Globalisation is seen as an imposed decision of the rich.
4) Unequal distribution of benefits.
5) Strengthened role of the MNCs.
6) Private profits at the cost of social security.
7) Increase protectionism and neo colonialism.
8) Undue increased role of big business houses.
9) It goes against democratic rights of ordinary citizens.