Practice 7　　While there are a few different conceptualizations of globalization, researchers seem to be in agreement that there are at least three dimensions of globalization: economic, political and cultural. The economic aspects of globalization stem from the spread of the capitalist world economy and the resulting expansion of goods and services. The need for cheap raw materials, cheap labor and new markets saw the expansion of the capitalist world economy from one that was primarily Eurocentric to one that encompassed the entire world. This process was achieved by various means and often involved overcoming political resistances in the new markets. The political aspects of globalization involved establishing control over markets and raw materials through either the use of direct military power or the establishment of international institutions that control such markets. The rise of the nation-state is an example of the political aspect of globalization, although it is argued that advances in telecommunications and information systems and the resulting constructions of institutions that transience territorial boundaries are making the nation-state obsolete.