What is Globalisation

Globalisation refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade.

 

Useful sources on globalisation:

Globalisation on Wikipedia  ||  The Guardian session on Globalisation   ||   What is Globalisation? An essay by the Yale Center for the Study of Globalisation

The term is most closely associated with the term economic globalisation: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence.