Globalization from "summary" of Short GIST of NCERT - Classwise Class 10 Social Science for UPSC & State PSCs by Mocktime Publication

Globalization is a term that refers to the process of integration and interconnection between countries and cultures around the world. It has increased accessibility to goods, services and ideas, as well as the movement of people across international borders.

Globalization generally involves the advancement of technology and communication, which have made it easier for businesses and people to collaborate on a global basis. This interconnectedness facilitates greater access to resources and markets, while lowering barriers to entry into those markets.

The growth of multinational corporations, free trade agreements such as NAFTA, and the emergence of international bodies such as the World Trade Organization (WTO. are only some of the manifestations of globalization.

Unfortunately, there are downsides to this phenomenon too. Globalization has widened the divide between “haves” and “have-nots,” as the latter often lack the tools or resources to take advantage of these opportunities.

Generally, however, it can be argued that globalization has brought about more positive than negative changes overall. Improved collaboration amongst nations and individuals has allowed for increased innovation and knowledge-sharing, benefiting societies on both a local and global level.

Similarly, certain industries may suffer from decreased competition due to the growth in market power of large companies. Furthermore, production processes tend to be concentrated in specific geographical regions, resulting in a concentration of wealth in those areas as well.