Globalized World

Definition

A globalized world refers to a condition where countries, economies, societies, and cultures become increasingly interconnected and interdependent through international trade, communication networks, transportation systems, and technological advancements. It involves the integration of different regions into a single global system.

Related terms

Outsourcing: Outsourcing is when companies relocate their operations or services to other countries with lower costs or specialized skills.

Transnational corporations (TNCs): TNCs are large companies that operate in multiple countries around the world.

Global citizenship: Global citizenship refers to recognizing oneself as part of a broader global community beyond national boundaries while embracing responsibilities towards it.