characteristics of globalization is the integration of economies and societies around the world. This process is characterized primarily by the formation of an international network that links countries, companies and people.

Globalization is not a recent phenomenon. The first wave of globalization runs from 1870 to 1914, followed by a setback due to the world wars of the 20th century. The most recent wave of globalization begins around 1980 and extends to the present day.

Below we present the characteristics of globalization.

1. It covers five dimensions

characteristics of globalization is a process that overlaps five dimensions, namely:

• Economic dimension : companies and corporations from one country establish themselves in other countries, either by selling their products, opening subsidiaries or forming alliances with other companies. The most obvious example is fast food chains such as McDonald’s.
• Political Dimension : through the formation of intergovernmental organizations such as the United Nations or the European Community.
• Social Dimension : the mobility of people between countries creates social relationships, as well as intercommunication thanks to infrastructures and communication technologies, such as the Internet.
• Cultural Dimension : Traditions, customs, information and ideas are displayed and shared in places other than where they originated. This can be seen in the spread of yoga, originally from India, or the taste for sushi, which is native to Japan.
• Environmental Dimension : Problems such as climate change, acid rain and the ozone gap are not restricted to one country or region, and must be addressed jointly.

2. Transporting goods is cheaper

The most important feature of globalization is the fall in transport costs. In the first wave of globalization, this was made possible by the shift from shipping to steamships and railways. In the second wave of globalization, between 1945 and 1980, maritime freight rates fell.

With containerized shipping and better airfares, the speed of freight transportation has also accelerated.

More recently, new technologies and the digitalization of information allow its transmission in virtual space at negligible cost.

Transport costs are influenced by geography and the quality of infrastructure. Therefore, coastal areas and countries with good communication routes have a better chance of industrializing and entering the global network.

3. Flow of people to development centers

The different waves of globalization encourage the movement of people to regions that generate greater economic prosperity. The reason is simple: wages are higher in rich countries than in developing countries.

For example, between 1870 and 1914, millions of people migrated from less developed regions of Europe to North America and other regions of the New World. In Asia, migration occurred from highly populated regions such as China and India to Sri Lanka, Burma, Thailand, the Philippines, and Vietnam. This migration was characterized by unskilled labor.

The current wave of globalization is characterized by favoring the migration of educated workers, which is known as “brain drain.”

This flow of people in turn stimulates the flow of capital: migrants send large amounts of money to their families in the form of remittances. For example, India receives six times more money from abroad than from international aid.

4. Increase in capital flow

This is nothing more than the movement of money in and out of a country. With globalization, the barriers to investment from abroad have been reduced. This stimulates the entry of private financing into developing countries.

5. Rise of globalized countries

Among the distinctive features of recent globalization is the active participation of many more developing countries. These include Argentina, China, Hungary, India, Malaysia, Mexico, the Philippines and Thailand.

This increased participation is due to more open investment and trade policies and political stability.

6. Material goods and services are negotiated

With the advancement of telecommunications and the Internet, countries export not only raw materials, such as iron, wood and oil, but they can also export services of different kinds. Examples of this are Call Centers . For example, a person in the United States can call a customer service center and be answered by a person in India.