MNB 3701 ASSIGNMENT 1

QUESTION 1 WHAT IS GLOBALISATION Globalisation is the catalyst for worldwide merging of economic and social forces, interests and commitments, values and tastes and challenges and opportunities Globalisation “refers both to the compression of the world and the intensification of consciousness of the world as a whole.” Globalisation is “a process that encompasses the causes, course and consequences of transnational and transcultural integration of human and non-human activities.” Globalisation refers to the intensification of economic, political, social and cultural relations across borders.” Globalisation is “a conceptualization of the international political economy which suggests and believes essentially that all economic activity, whether local, regional or national, must be conducted within a perspective and attitude that constantly is global and worldwide in its scope.” Globalisation “is a social process in which the constraints of geography on social and cultural arrangements recede and in which people become increasingly aware that they are receding”. Globalisation “is a process in which the production and financial structures of countries are becoming interlinked by an increasing number of cross-border transactions to create an international division of labour in which national wealth creation comes, increasing