What is Globalization?

Globalization refers to the increasing relationship between countries throughout the world. The term comes as an effect of enabling societies to reduce their global barriers, and share their economy, culture, and ideas. The term was nonexistent until the beginning of the twentieth century, when communication and trade between different parts of the world became easier. Products that are made in Asian countries and then distributed to countries in America, or international companies that are funded in Europe and then established in third world countries in Africa, are good examples of the consequences of globalization. McDonald’s, HSBC Bank, and the use of the World Wide Web are others. Among the different factors that play part in increasing globalization, technology is the most essential. Without the use of technology, globalization would be practically impossible. Technology allows its users to communicate with acquaintances from around the globe in a matter of seconds, and has facilitated the breakdown of cultural and trade barriers.