The term globalisation primarily describes the political and economic relations between states. However, it can also refer to the personal connections between people.
Globalisation means that people around the globe trade with each other, exchange information and benefit from each other – whether in culture, politics, technology, the environment, the economy, science or society.
The globalisation process of the worldwide markets for goods, capital and services is driven primarily by new technologies in the information, transportation and information systems. As a result, supply and demand from all over the world are increasingly being combined. One of the consequences is a standardisation of price formation.
The main actors of globalisation are multinational corporations, whose diverse strategies increasingly determine the form and character of international trade.