Globalization And The Process Of Globalization In The 21st Century

966 Words4 Pages
Though no single or conclusive definition exists, ‘globalization’ generally pertains to the deepening and broadening of world-wide interconnectedness. Globalization is a far-reaching process which encompasses not only the political and economic but also the socio-cultural. The concept has achieved increased popularity following the Cold War but the actual process of globalization is no recent phenomenon; in the second millennium BCE the Silk Road, for example, allowed Chinese silks to be traded in Ancient Egypt. This essay is focussed on modern globalization and how the process has been altered in the last century. Globalization in the twentieth century is widely accepted to have undergone ups and downs; international financial crises and the two World Wars led economic growth, migration, and the rate of cultural exchange to falter and even regress between 1914 and 1944. In the last fifty years in particular, this essay will show that the process of globalization has become more dominated by large corporations, more global in its reach, and more relevant to the individual. The world has become increasingly smaller and better connected. The exponential growth of the internet between the mid-1990s and the present day has played a huge role in shaping and accelerating global interactions in the twenty-first century. In 1995 fewer than 1% of people worldwide had internet access in their homes; today that figure is closer to 40%. With a handheld device billions of people across
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