Every region is specialised in a particular sector and at the same time lacks some other important aspects which are necessary for the national growth. Therefore these countries import the prerequisite things and export their specialised service or product. This arises the concept of Globalization which comprises exchange of raw materials, finished goods, machinery, services, technology and knowledge between nations.
Globalization is the flow of information, goods, services, capital and people across political and geographic boundaries.
Globalization is a process of collaboration and amalgamation among the people, companies, associations and governments of different nations (or diffrent geographies) to increasing unification and utilization of the world's products, services, information and knowledge in order to develop mutual benefits.
One school of thoughts set the origins of Globalization in modern era while some scholars stick to the view that it has a history very long even before modern era.
The generation of vast fortunes from tea and tobacco trade in the 18th and 19th centuries, the spread of potatoes and maize as food staples from the Americas to the rest of the world in the 16th and 17th centuries, the introduction of plague from the Orient into Europe in the 14th, the explosion of commercial trade that followed Viking routes in the 10th, and even the spread of humankind itself across the face of the globe tens of thousands of years earlier, can all be considered examples of globalization with vast and historic consequences.
Since many years individuals as well as corporations have been engaged in a give and take relationship across national borders. Like through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. History has also seen companies investing in other nations, setting branches, etc. The practice of Globalization much before the 1st World War in 1914 is somewhat same which is done today.
Due to rapidly improving technology, economy driven by politics, introduction of new policies for trading and investment and migration there has been a drastic progression in Globalization especially since 1950. The volume of trade has increased by 20 times and the foreign investment has almost doubled. The globalization is witnessing tremndous growth.
