Globalization Definition – PTE Summarize Spoken Text Exam Question
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The lecture talked about the definition of Globalization. To begin with, it is the industries and the markets that get globalized and not countries. Moreover, there is an interconnection between the different countries and market as a result of globalization. To conclude the definition of globalization, an example of the market crash during the period of 2007-2008 was discussed suggesting close relations of banks with the market.
The talk outlines the definition of globalization. According to the speaker, not only can globalization interconnect industry and market, but it can also bring different cultures to close together. Moreover, in the financial crisis, the financial system and banking system connected to each other. Needless to say, all these aspects stand a country in good stead when it comes to developing the nation.
The talk outlines the misunderstood concept of globalization that we can see public discussion on the news. According to the speaker, not only does it connect markets and industries, but it also connects the market of that country to the world. Moreover, in the 2007-2008 financial crisis, the financial and the banking system of that country interconnected to the world. Needless to say, all these aspects have a far-reaching impact on the integration of economic activities across the border.