Economic globalization consists of free trade, that is, eliminating tariffs and barriers so that capital can circulate freely and thus create a world market. In this sense, it is necessary to distinguish between three types of capital:
- Productive capital:
It is the money that is invested in materials, tools, and labor.
- Commercial capital:
Corresponds to sales and acquisitions of goods and services.
- Financial capital:
It includes loans, credits, and investments.
In cultural globalization, the role of the English Language as a common thread, which acts as a lingua franca, should be highlighted here.
Globalization also extends to the social and political areas. From a social point of view, the premise is that everyone is equal and should be treated in the same way, regardless of their social status, their place of birth, or their beliefs.
From a political point of view, it consists of countries coming together to face problems that apply to the whole of society and not just to a part.
Without technology, most likely the rest of the fields would not have been globalized in the same way. Globalization has not yet finished its journey, but it has already had a notable impact on the world.
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