Define globalization? Discuss new international division of labour.

Globalization is the process by which businesses, technologies, ideas, and cultural practices spread around the world, creating a more interconnected and interdependent global economy. It involves the expansion of international trade, investment, information technology, and cultural exchange. Globalization reduces the barriers between national economies, allowing goods, services, capital, and labor to move freely across borders. This phenomenon has accelerated over the past few decades due to advancements in transportation, communication, and the liberalization of trade policies. In the context of women in the economy, globalization has both expanded opportunities and posed new challenges. It has led to a reorganization of work, shifting production across countries, and creating new avenues for women's participation in global labor markets.

One of the key aspects of globalization is the emergence of a new international division of labor. The traditional international division of labor was based on colonial relationships, where raw materials were extracted in colonies and processed in industrialized nations. In contrast, the new international division of labor is characterized by _________ ________ __________ ___ _________ __________ _______ ________ _______ ___.
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