Academic Paper: What is Globalization
What is Globalization
In a simple definition, globalization refers to an international, global amalgamation, and alignment of national economic, technological, social cultural, and political forces into a unified and single civilization society (Lacer 2006). Globalization is believed to have changed the world outlook into a more liberal or neoliberal arena than it was previously perceived.
The concept of global institutionalism cultivated by the World Bank and the IMF (International Monetary Fund) is seemed to bring a new world order. The duo is praised to have initiated policies that promoted the movement of capital all over the world. Analysts argue that their formation has promoted increased international investment thus meeting their goals of reducing poverty.
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