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There was a time were most regions were economically self-sufficient. Locally
produced foods, fuels and raw materials were generally processed for local
consumption. Trade between different regions were quite limited
Today, the economies of most countries are so interconnected that they form part
of a single, interdependent global economy.
Globalization is arguably the most important factor currently shaping the world
economy. Although it is not a new phenomenon (waves of globalization can be
traced back to the 1800s) the changes it is bringing about now occur far more
rapidly, spread more widely and have a much greater business, economic and
social impact than ever before.
PROGRESS, DEVELOPMENT,
AND INTEGRATION.
prepared by: Ms. Michelle Jane Marfa
Globalization
OTHERS MAY SAW GLOBALIZATION AS A
"POSITIVE PHENOMENON".
FREE TRADE
CONNECTIVITY
2. CYCLES
3. EPOCH
4. EVENTS
imperialism
The difference between epoch and
as returning.
6.Post-Cold War period
corporations (MNCs)
It can be:
(1) Natural, and (2) Man-made.
growing “porosity” of
2015).