In simple terms, globalization is the process by which people and goods move easily across borders. Principally, it's an economic concept – the integration of markets, trade and investments with few barriers to slow the flow of products and services between nations.
Glocalization is a combination of the words "globalization" and "localization." The term is used to describe a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market.
Globalization refers to integration between people, companies, and governments. Most noteworthy, this integration occurs on a global scale. Furthermore, it is the process of expanding the business all over the world. In Globalization, many businesses expand globally and assume an international image.
When people speak of globalization today, they are essentially referring to the growth of international trade and the free movement of financial capital.
Globalization has benefits that cover many different areas. It reciprocally developed economies all over the world and increased cultural exchanges. It also allowed financial exchanges between companies, changing the paradigm of work. Many people are nowadays citizens of the world.
In many instances, quality of life has improved for those who live in developing nations. For many developing nations, globalization has led to an improvement in standard of living through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations.
– Globalization enhances the student's ability to acquire and utilize knowledge. Globalization enhances the ability of learners to access, assess, adapt, and apply knowledge, to think independently to exercise appropriate judgment, and to collaborate with others to make sense of new situations.
Globalization has allowed society to enjoy many benefits, including increased global cooperation, reduced risk of global conflict, and lower prices for goods and commodities. Unfortunately, it's also led to serious negative effects on the environment.
More exposure to global media events (mass shootings in USA, natural disasters, terrorist attacks, war and conflicts) children are more risk conscious – anxious kids, more mental health issues. (More 'toxic childhood') Parents are more paranoid, more restrictive parenting, less outdoor.
2019 global social media research suggests that the overall popularity of Social media globally increased by 9% as the number of internet users increased worldwide. Of all regions, Northern, Western and South Europe and North America contribute to global social media use between 88% and 95%.
Positive impacts of globalisation
In general, globalization has been shown to increase the standard of living in developing countries, but some analysts warn that globalization can have a negative effect on local or emerging economies and individual workers.