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The central argument of this paper, at once implicit or explicit is that the term globalization has remained an obscure one that is often expressed and explained by what it is not than what it is. It is a process or concept expressing a multiplicity of linkages, intertwining and interconnectedness that now define the nature and character of contemporary world system. The diversity and multiplicity of meaning and interpretations has created various contradictions whose observations cannot still be undermined by practitioners and scholars. Hence the imperativeness of a cursory overview of the literature on this term that has continued to shape the socio-cultural, economic and political sphere of contemporary society. This review of the literature attempt to historicize, reveal the perspectives, explain the effects and prospects of the concept or process of globalization.
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