A Synopsis of Globalization and Caribbean Development
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Globalization is the process of increasing the connectivity and interdependence of the world’s markets and businesses so that they function as one global market. |
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What does Globalization look like? This can be summarized in the acronym, SCARED 1. Submission to an economic model 2. Capital flows/flight 3. Access to more markets 4. Removal of preferential trade 5. Erasure and hybridization of culture 6. Deepening of social inequality |
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Globalization is the process by which the world is becoming increasingly interconnected due to the transnational circulation of ideas, languages and popular culture without the restriction of nation-state borders |
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In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and invest-ment movements, migration and movement of people, and the dissemination of knowledge |
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