globalization

Term of the Day globalization The worldwide movement toward economic, financial, trade, andcommunications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of laborand, as suggested by some economists, may hurt smaller or fragile economiesif applied indiscriminately. Learn more about this term Usage Example Globalization will continue to grow as the global economy becomes increasingly interdependent upon one another.

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