According to WHO, globalization can be defined as ” the increased interconnectedness and interdependence of peoples and countries. It is generally understood to include two inter-related elements: the opening of international borders to increasingly fast flows of goods, services, finance, people and ideas; and the changes in institutions and policies at national and international levels that facilitate or promote such flows.”

Globalization is a phenomonon affecting different aspects of our lives. These aspects include:

NOTE - This question has multiple answers.

It is hard to come up with one concrete definition of globalization because there are different types of globalization. These include:

The Silk Road is an example that globalization is not just a recent phenomenon.

The Industrial Revolution brought advances in transportation and communication in the 19th century that eased trade across borders. Thanks to globalziation the benefits from this Revolution were able to impact the world at large.

Cultural loss is one of the negative effects of globalization.

The internet has not really affected the advancement of modern-day globalization.

If not properly handled, globalization can lead to income inequalities, disproportional wealth and trades agreements that benefit parties differently.

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