What is Globalization?

environment

Everything that surrounds an organism and influences it.

international trade

the exchange of goods and services between countries.

Globalization

A process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

Interaction

A relationship in which the effect of one factor (such as biology) depends on another factor (such as environment).

culture

Beliefs, customs, and traditions of a specific group of people.

information technology

Technology that enables information to be used to produce products and services.

economic development

The improvement of living standards by economic growth.

political systems

The system a government uses to govern, or set rules for the safety of, its people.

Integration

To bring together

well being

a positive state that includes striving for optimal health and life satisfaction

international investment

occurs when finance capital from one country is used in another. Trade in money rather than goods.

prosperity

wealth, success