Globalization & Economic intergration

globalization

The process of increased interconnectedness and interdependence among countries, primarily in terms of trade, investment, and cultural exchange.

multinational corporations

Companies that operate in multiple countries, managing production or delivering services across borders.

trade liberalization

The reduction or elimination of trade barriers, such as tariffs and quotas, to encourage free trade between countries.

foreign direct investment (FDI)

Investment made by a company or individual in one country in business interests in another country, often through establishing business operations or acquiring assets.

economic intergration

The process by which countries reduce or eliminate barriers to trade and investment among themselves, leading to greater economic cooperation and interdependence.

cultural erosion

The process by which local cultures and traditions are diminished or replaced due to the influence of global cultural exchange, often driven by globalization.

cutural homogenization

The process by which local cultures become more similar due to the influence of global culture, often resulting in a loss of diversity.

local identity

The unique characteristics, traditions, and values that define a community or group, often shaped by geography, history, and culture.

heritage sites

Locations recognized for their cultural, historical, or natural significance, often preserved for future generations.

traditional customs

Practices and rituals passed down through generations that reflect a community's cultural heritage.

information dissemination

The process of spreading information widely to ensure that it reaches a large audience, often facilitated by technology and media.

social media platforms

websites and applications that enable users to create and share content or participate in social networking.

digitalization

The integration of digital technologies into everyday life, transforming how services, businesses, and interactions are conducted.

mass media

forms of communication that reach large audiences, such as television, radio, newspapers, and the internet.

cultural exchange

A cultural exchange is the sharing of customs, traditions, and ideas between different cultures to promote understanding and appreciation.