Economic globalization refers to the increasing integration and interdependence of economies across national borders. It involves the flow of goods, services, capital, and information between countries.
Related terms
International Trade: International trade refers to the exchange of goods and services between different countries.
Foreign Direct Investment (FDI): FDI is when a company invests in or establishes production facilities in another country.
Outsourcing: Outsourcing is when a company hires workers or gets work done from another country at lower costs.