Письменный перевод в сфере экономики и бизнеса. Княжева Е.А. - 16 стр.

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                                    Extension.
                       Texts for supplementary reading.
                                      Text 1.
      Globalization, or globalisation is the increasing interdependence,
integration and interaction among people and corporations in disparate locations
around the world. It is an umbrella term which refers to a complex of economic,
trade, social, technological, cultural and political interrelationships. The term
has been used as early as 1944, however Theodore Levitt is usually credited
with its first use in an economic context.
      A typical - but restrictive - definition can be taken from the International
Monetary Fund, which stresses the growing economic interdependence of
countries worldwide through increasing volume and variety of cross-border
transactions in goods and services, free international capital flows, and more
rapid and widespread diffusion of technology.
   While being a complex and multifaceted array of phenomena, globalization
can be broken down into separate aspects:
   � industrial globalization (alias transnationalization) - rise and expansion of
      multinational enterprises;
   � financial globalization - emergence of worldwide financial markets and
      better access to external financing for corporate, national and subnational
      borrowers;
   � political globalization - spread of political sphere of interests to the
      regions and
      countries outside the neighbourhood of political (state and non-state)
      actors informational globalization - increase in information flows between
      geographically remote locations;
   � cultural globalization - growth of cross-cultural contacts.
      Economic definition:
      According to Dr. Ismail Shariff, globalization is the worldwide process of
homogenizing prices, products, wages, rates of interest and profits.