The implications of globalisation are perceivable to all. The global opening of markets promotes a free circulation of goods and money, as well as other world-wide services. Many individuals, enterprises and states stand to gain from this process. ... The process of globalisation therefore implies opportunities and risks.

How globalization became a phenomenon?

Globalization is commonly thought of as a new phenomenon, but contact between diverse individuals is not new. It began when prehistoric tribes settled and were able to outmuscle wandering tribes. The premodern period saw technological advances that allowed trade and communication to flourish.

What is globalization phenomenon?

Globalization is a social, cultural, political, and legal phenomenon. Socially, it leads to greater interaction among various populations. Culturally, globalization represents the exchange of ideas, values, and artistic expression among cultures.