Answer to Question #257029 in Economics for Princess

Question

Compare and contrast globalism and globalization.

Answer 1

Globalism refers to various systems with scope beyond the merely international. It seeks to describe and explain nothing more than a world which is characterized by networks of connections that span multi-continental distances.

Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.