Globalization

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by investment and aided by technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human well being in societies around the world. Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914.