Globalization

Definition

Globalization is the process by which businesses or other organizations develop international influence or start operating on an international scale. It involves increased interconnectedness among countries due to trade, culture exchange, political relations etc.

Related terms

Trade Liberalization: The removal or reduction of restrictions or barriers on free trade between nations. This helps in creating more threads in our 'globalization' spider web.

Cultural Exchange: The sharing of ideas and customs among different cultures around the world; another thread in our globalization web.

Political Alliances: Agreements between countries for mutual benefit such as defense treaties; these also form part of the interconnected web of globalization.