Definition
- Globalisation
- Globalisation is the expanding cultural, political and economic connections between people around the world, such as trade and flows of financial capital.
- Not to be confused with: Protectionism
- Protectionism is government policy to reduce or block imports, often to shield domestic producers and workers from foreign competition.
Test yourself
What is the difference between globalisation and protectionism?
Globalisation is the growth of links between countries; protectionism is policy that holds trade back.