(a) what are the dimensions of globalization? (b) Explain the meaning, dimensions and stages of globalization

a). The four dimensions of globalization are economic, Ecological, political and cultural globalization.

b). Globalization refers to the overall flow of ideas, capital, commodities and people across various regions of the world. It need not always be positive, it can also have negative consequences for the people. The dimensions of globalization are :

• Political globalization : It refers how much political cooperation exists among various nations.
• Economic globalization : It refers to the economic dependence between various countries in the world and can be made mainly due to import and export of technology, goods and services.
• Cultural globalization : It refers to overall movement of value, ideas and skills among various countries which results in rising and extending social relationships.
• Ecological globalization : It refers to the overall growth of economy, food access, rich and poor gap, human induced ecological changes and biodiversity reduction.

The stages of globalization involves :

• In 20th century, the development of industrial revolution brought a welfare state in the place of police state.
• In 1985, indian economy starts showing big strains. The public sector now appeared to be a liability and foreign exchange reserves came to be in very bad shape.
• The social economies, in particular the soviet economy and political system was collapsing.
• In july 1991, the government of india decided to go in for liberalization of economy.