Types of Globalisation
Globalisation can be classified into three types:
1. Economic Globalisation :
The emphasis here is on the integration of international financial markets and the coordination of financial trade. Economic globalisation is represented through free trade agreements like the Trans-Pacific Partnership and the North American Free Trade Agreement. Economic globalisation is greatly influenced by multinational firms, which have business in two or more nations.
2. Political Globalisation:
This type of globalisation includes policies made by the government that encourages and foster international cooperation on a political, economic, and cultural level. The UN and NATO, for example, are involved in the political globalisation process.
3. Cultural Globalisation:
This element of globalisation mainly focuses on the sociological and technological elements that are generating cultural integration. These include improved communication, widespread use of social media, and access to better and faster transportation.
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