I.

Briefly discuss the four main dimensions of Globalization (40 points)

1. Economic globalization - Economic globalization is the integration and interdependence of national

economies, made possible by the unrestricted flow of capital, goods, and services across international
boundaries. It has sparked an upsurge in global financial markets, multinational enterprises, and
international trade.

2. Political globalization - Political globalization is the term used to describe the growing coordination
and collaboration between nations and international bodies like the World Trade Organization and the
United Nations. It has prompted the creation of international laws, agreements, and organizations that
support world peace, security, and government.

3. Cultural globalization - Cultural globalization refers to the spread of cultural ideas, practices, and
values across borders, facilitated by advancements in technology and communication. It has led to
greater cultural exchange and the emergence of a globalized popular culture, as well as the preservation
of local cultural traditions.

4. Ecological globalization - Globalization's effects on the environment, including problems like pollution,
deforestation, and climate change, are referred to as ecological globalization. It has contributed to a
greater understanding of the necessity of international environmental accords and laws as well as the
development of the need for global cooperation to handle environmental concerns.

II. What is your understanding of the term “globalization”? (15 points)

Globalization is a term used to describe the process of increased interconnectedness and

interdependence between countries and people around the world. It means that the economies,
cultures, and political systems of different nations are becoming more integrated and interlinked.

For instance, products that we buy in stores are often made in different countries and shipped across the
world, while people are traveling more and more, and communicating with each other through the
internet and social media. This has led to greater cultural exchange, economic growth, and global
cooperation, but it has also brought challenges like inequality and environmental issues.

Overall, globalization is a complex and multifaceted phenomenon that affects many aspects of our lives,
and its impact is a subject of ongoing debate and discussion.