Globalization refers to a complex, multi-faceted phenomenon characterized by the formation of a single interdependent, and interconnected world. Due to the increased speed of technological progress, there have appeared new and emerging technologies that have fundamentally transformed the world.
Globalisation is considered as a multi-system of different relations, the increasing interdependence of countries in different areas, such as economy, politics, social sphere, culture, environment, information technology and trade (Danziger 306). This interdependence is accompanied by the transmission of any information at a breakneck speed as well as delivery of goods and services to every corner of the globe. Distance is no longer a factor retarding economic, social or environmental relations. Darziger argues that globalization has changed the very nature of the international division of labor (307).
Globalisation implies, ultimate merging the economies of all countries into a single economic system, which, in contrast to the national markets that controlled and regulated by governments, will be self-regulating system (Danziger 308). The most significant impact it has on foreign trade and investment flows. On the cultural and social level, as there has been the integration process, in other words the formation of a unified society based on a new paradigm of social and cultural development. Globalization creates opportunities for effective participation in the international division of labor of all states, regardless of size, natural resources or geographical areas (et al.). This phenomenon does not presupposes a clash of civilizations, since a confrontation intensifies socio-economic, not religious or geographical grounds. In the era of globalization, companies are forced to win the successful development of new overseas markets. Moreover, they endeavour to establish productive relations with foreign leaders in their industries so that to reduce costs by transferring enterprises abroad.
Concepts such as integration, globalization and the world economy have intruded into each society. There are new global challenges and threats, which at the national level are often not amenable. Nowadays the way to national security and welfare lies through transnational cooperation.
Danziger, James N. Understanding the Political World: A Comparative Introduction to Political Science. 11th ed. New York: Pearson, 2013. Print.