Define Globalisation indicators. What are its limitations?

Globalization is the process of increasing interconnectedness and interdependence among the countries and people of the world. It manifests in various dimensions such as economic, political, social, cultural, and environmental. The rise of globalization has made the world increasingly interdependent, yet it also raises several concerns about inequality, cultural homogenization, and environmental degradation. In the context of social ecology, globalization impacts local communities, ecosystems, and social structures, often raising concerns about sustainability.

### Globalization Indicators:

Globalization indicators refer to various metrics and measures used to assess the extent of global integration and its impacts. These indicators can be divided into several categories based on the domain they measure, such as economic, political, social, technological, and environmental dimensions.

1. Economic Indicators:
   Economic globalization can be measured by several indicators that reflect the flow of goods, services, capital, and labor across borders. Common economic indicators of globalization include:

   - Trade Flows: The volume and value of exports and imports between countries. A higher ratio of trade to GDP indicates a greater degree of economic globalization.
   - Foreign Direct Investment (FDI): This indicator measures the investment made by one country in assets (e.g., companies, factories) in another country. A high level of FDI suggests a globalized economy where capital moves freely across borders.
   - Capital Flows: The movement of money across countries through investments, loans, and remittances. This includes the global financial market integration where financial assets like stocks, bonds, and currencies are traded internationally.
   - Multinational Corporations (MNCs): The presence and operations of large multinational corporations across different countries indicate economic globalization. The number of MNCs operating in various countries and their share of the global market are indicators of integration.
   - Global Supply Chains: The interconnectedness of supply chains across countries. The extent to which products are sourced, manufactured, and distributed globally is a clear indicator of economic globalization.

2. Political Indicators:
   Political globalization refers to the growing influence of international institutions, policies, and agreements that shape the political landscape globally. Political globalization indicators include:

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