Political Theory in a globalizing Word

This modernisation of interdependence may be called globalisation. But this short definition does not convey the whole idea that lies in it. Dr. Deepak Nayyar, a recent authority of the subject, defines it in the following words: “It (globalisation) refers to the expansion of economic transactions and the organisation of economic activities across the political boundaries of nation-states.

More precisely, it can be defined as a process associated with increasing economic openness, growing economic interdependence and deepening economic integration between countries in the world economy”.

In the definition of Dr. Nayyar the two words economic and openness are vital. The term is really broad and significant. It includes import-export of goods, investment and technical knowhow’s. It also includes inflows and outflows of various services.

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