Globalisation: A New Way Of Interaction.

Globalisation is a term used to describe the growing interdependence of the world's economic, social, and technological exchange within the framework of capitalism. It also refers to the integration of markets in the global economy, leading to increased cooperation between national economies. Countries have built economic partnerships to facilitate these movements over many centuries but the term gained popularity after the Cold War in the early 1990s, as these cooperative arrangements shaped modern everyday life. Thomas Friedman, an American political writer, stated that 'Globalisation is a system that replaced the Cold War.' The wide-ranging effects of globalisation are complex and politically charged. As with major technological advances and development, it benefits society as a whole, while also harming certain groups.

Globalisation has also created new jobs and economic growth through the flow of goods, capital, and labour but on the other hand; this growth and job creation are not distributed evenly across industries or countries. If we look at the development of industries in certain countries, such as textile manufacturing in the US or corn farming in Mexico, they have suffered severe disruption or outright collapse as a result of increased international competition. Regarding the objectives and goals of globalisation, we can see that this phenomenon is idealistic, as well as opportunistic, but the development of a global free market has also benefited large corporations based in the Western hemisphere. Its impact remains mixed for workers, cultures, and small businesses around the globe, in both developed and emerging nations.

Globalisation has increased the production of goods and services throughout the world. There are several driving forces which play a key role in globalization, like technology. Advanced information technology has transformed our economic life as well as the business sector since developing tools were used to avail new opportunities, including faster and more informed analyses of economic trends around the world and communication with partners. Thomas Friedman has said that today, globalisation is a 'farther, faster, cheaper, and deeper phenomenon.

Low barriers to trade and investment drive globalisation significantly. Many of the world trades are currently done through free trade, bilateral, and multilateral agreements. Interestingly, countries which were very hostile or unfriendly to foreign investment a few...