What is Globalization :
Globalization is a process in which people interact and make connection with authorities of different countries and companies, a procedure supported by computerized information and incentive by global trade and investment. In all around the world, surroundings, way of life, monetary development and prosperity, political systems and human in civilizations are influenced by this process. The idea of globalization completely assumes the perception of a win win scenario of mutuality of interrelationship and profits. The modern system of globalization is not the same as the old gadget in many vital respects. The current structure of globalization is noticeably planned, systematic, sophisticated and overwhelming as compare to the past in which the sources are mainly one directional, uncertain and incorrect and based on capitalist theory.
Globalization effects the world economy :
A number of factors which are responsible for the rapid growth of globalization in the recent years. Growth and the progress of the global business plays a vital role in global market. International trade in which goods and services export and import to and from other nations. Due to globalization, international commercialisation has increased in recent years and become easy to transport goods and capital between nations.