globalization

(redirected from International market)
Also found in: Dictionary, Thesaurus, Medical, Financial.
Related to International market: World Market, International market index

globalization

Operating around the world. Although many large companies have globalized for decades, the Web, more than any other phenomenon, has enabled the smallest company to have a global presence. See localization.

globalization

A mulifaceted process in which the world is becoming more and more interconnected and communication is becoming instanteneous. Aspects of this process include:
  1. the transformation of the spatial arrangement and organization of social relations involving ‘action at a distance’, a stretching of social relations and transactions (and power), including instantaneous communications across time-space;
  2. the increasing extensity, intensity, velocity and impact of global social relations and transactions (see Held et al. 1999);
  3. the creation of new networks and nodes – the ‘network society’ (CASTELLS) – associated with the new levels of dependence on knowledge/ information and ‘expert systems – the ‘information’ or ‘knowledge society’ – as well as the new risks associated with this – RISK SOCIETY;
  4. a dialect between the global and the local in which (consistent with a dialect of power and the duality of structure) the outcome is not a simple triumph of the centre over the periphery, mere Americanization’, or suchlike (see also MCDONALDIZATION).

As Held et al. (1999) suggest, a ‘vibrant’ ongoing debate exists on the characterization of globalization between three groups of theorists:

  1. ‘hyperglobalizers’ (e.g. Ohmae 1990; 1995) for whom global marketization is the main driver;
  2. 'S ceptics’ (notably Hirst and Thompson 1996a and b), who play down the level and distinctiveness of the change;
  3. ‘transformationalists’, including GIDDENS, for whom globalization is a distinctive new phase such that societies and states across the globe are experiencing profound social as well as economic changes – a ‘massive shake-out’ of social relations, economies, governance and politics – as they seek to adapt to an increasingly interconnected but also unpredictable and uncertain world.
References in periodicals archive ?
For the Lot 1 section of the International Market which was remodelled by the present administration, the governor, however, offered traders the chance to buy and occupy the shops at 50 per cent advance payment, to be completed later.
"I want to assure Kenyans, through this committee that we will automatically reduce the prices as soon as the prices come down in the international markets," he said.
With the UAE lifting the ban on importing poultry and poultry products from Pakistan, the country is expanding to reach other international markets.
Now, the three-strong organisation is advising others in the industry to attend International Markets 2014 this November to get the knowledge and connections they need to take their programmes into the international marketplace.
Now, the three-strong organisation is advising others to attend International Markets 2014 this November.
Since SuperGreen Solutions is focused on providing green energy products appropriate for all customers, from individual families to major companies with large commercial spaces, the company is focusing on international markets that are struggling with high energy costs.
The central bank of Egypt has asked commercial banks in the nation to conform to international market rates in official trading of non-US dollar foreign currencies, according to Reuters.
However, the current status of teaching international market entry is unsatisfactory.
Demand of yarn in the international market is down, which resulted in cotton prices to decline globally and locally.
co-announced on June 22 that they will combine to strengthen competitiveness on international market.
In the international market supply rose by 11.2% and demand grew to 10.4% in January 2011 compared to January last year.
He said that the spate of hiking of gold prices across the country persists due to shooting international market gold prices and mainly due to instability in rupee value.

Encyclopedia browser ?
Full browser ?