CONCEPT OF GLOBALIZATION
WHAT IS GLOBALIZATION? This is the technological effect in reducing the physical distance among nations through information technology to bring about socio-economic integration. It is the increased integration of world economies through trade and capital flow facilitated by the growth in information technology. Through globalization, there is cross national flows of goods and services and shon tem and long tern capital flow. Globalization is the process of international integration arising from the interchange of world views, product, ideas and other aspect of cultute. Through globalization, the whole world has become a single market. It implies that and goods and services, capital and labour are traded on worldwide basis. Globalization ensures freedom of exchange, flow of capital, goods and services and capacities across national boundaries. FACTORS RESPONSIBLE FOR GLOBALIZATION Change in technology : Computerization and technological breakthrough have positive impact on globa