foxex: What is a 'Globalization'?

Monday, August 12, 2019

What is a 'Globalization'?

Globalization is the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade.

Related to "Globalization"

Globalization: Progress Or Profiteering?

Proponents of globalization argue that it helps the economies of developing nations and makes goods cheaper, while critics say that globalization reduces domestic jobs and exploits foreign workers.

How Globalization Affects Developed Countries

The increase in communications technology has companies competing in a global market.

A Brief History of International Trade Agreements

Since the mercantilist era, world trade has become increasingly multilateral, but since World War II there has been a definite rise in regional trade agreements.

Related Definitions

Competitive Advantage

Competitive advantage is a company's ability to outperform its rivals due to its products or services either being unique and in high demand, or superior and higher quality, boosting its profit margins.

United Nations (UN)

The United Nations (UN) is an international organization that aims to increase political and economic cooperation among its member countries.

World Trade Organization – WTO

The World Trade Organization is an international institution that oversees the global trade rules involving the majority of trading nations. The WTO has fueled globalization with both positive and negative effects.

North American Free Trade Agreement (NAFTA)

The North American Free Trade Agreement was implemented in 1994 to encourage trade between the United States, Mexico, and Canada.