Characteristics of the Globalization
Globalization means the economic integration with world economy through the economic liberalization deregulation, privatization and greater openness to world trade and greater openness, to world trade and investment.
The main characteristics of Globalization are-
- Greater trade in goods and services both between nations and within regions
- It is abolishing the old structures and boundaries of the states.
- It is changing the conceptions, thoughts and believes of human beings.
- Globalization is the key forces of investment.
- Free trade between countries; absence of excessive governmental control over trade;
- It increases the economic transactions trade and commerce exchange of cultures.
- It has opened the world trade and created free global market.
- The development of global brandsthat serve markets in higher and lower income countries
- International monitor and trade organizations are working in favor of globalization.
Globalization is the progress of growing interdependence among countries. it is a process of making the world economy more inter-dependent. That means the main objective of globalization is to create a position where free trade will occur worldwide.