Explain the following concept.
The worldwide circulation of capital, labour, information, technology and ideas is known as Globalisation. The concept came into prominence after the Cold War when different economies of the world got more and more integrated, and the geographical boundaries between the nations did not remain as sacrosanct as before. Trade and economic relations between countries became more open. The give and take of ideas among people all over the world grew. Due to the revolution in information technology, different events and developments began to be known everywhere.