Cronje, stated that globalisation refers to the widening and deepening of international trade, finance, human resources, information and culture in a single integrated world market. The aim of globalisation is to produce the best outcome for all as regards economic growth and human welfare.

According to Bhagwati, (2004:11) the following are some of the main features of globalisation:-
• trade liberalisation;
• increasing and changing patterns of financial flows;
• cheaper and quicker transport;
• the growth in the size and power of corporations; and
• impressive advances in new technology, in particular information and communications technology.

Generally, these processes are evolving, partly through their own dynamism and partly through the implementation of international, regional and national rules, standards and policies, in particular, the rules of the World Trade Organisation (WTO), the policies of the International Monetary Fund (IMF) and the World Bank.

Fundamentally, globalisation is the closer integration of the countries and peoples of the world which has been brought about by the enormous reduction of costs of transportation and communication, and the breaking down of artificial barriers to the flow of goods, services and capital, knowledge and people across borders.
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Figure 1 : National Government of South Africa In Relation to Global Partners

Figure 1 explains the various interfaces where the South African government departments interact with global institutions and partners such as Department of Trade and Industry with G8 countries, the Departments of Foreign Affairs, Immigration and Public Service and Administration with the United Nations. The Southern African Developing Countries (SADC) interacts with the Department of Energy and Eskom in respect of power generation. The European Union interacts with the Department of Trade and Industry with regards to trading.

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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