In your answer you should explain a range of meanings for the term ˜globalization'.
Illustrate your answer with examples of ways in which globalization is operating in the modern world.
A couple of years ago, the term globalization was relatively unknown. Today you can see signs of it almost everywhere and it is affecting virtually everyone in the modern society. Globalization relates to the fact that we all increasingly live in "one world , so that individuals, groups and nations become more interdependent (Giddens 2001).
Many see globalization as a primarily economic phenomenon, involving the increasingly integration of national economic systems through the growth in international trade, investment and capital flows. However, one can also point to a rapid increase in cross-border social, cultural, political and technological exchange as part of the phenomenon of globalization. These aspects of globalization will be dealt with in turn in this essay.
As a result of the growth of transnational corporations (TNC) an increasing integration of economies around the globe has appeared more and more clearly in the last couple of decades. "Transnational cor