Contemporary world — 6-topic bundle

Globalization, in its economic sense, refers to the increasing interdependence of world economies. This interdependence happens mainly through two channels: international trade and capital flows.

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Globalization is the process of increasing interdependence and integration among people, businesses, and governments worldwide. It's characterized by the flow of goods, services, capital, technology, and information across national borders. While the term "globalization" became popular in the 20th century, its roots stretch back much further.

Globalization isn't just about economies; it deeply affects how people interact and what they know. We'll look at two big parts of this: migration (people moving) and the flow of knowledge (ideas and information spreading).

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Globalization isn't new; people have traded and traveled across borders for centuries. What we call modern globalization refers to the period roughly from the end of the Cold War (1991) to today. It's characterized by an unprecedented acceleration and intensification of global interactions.

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