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Definition

Globalization is the process of interaction and integration among people, companies, and governments worldwide. It has accelerated since the 1990s due to advances in communication and transportation technology, profoundly impacting international political economy.

Related terms

International Trade: The exchange of goods and services across international borders or territories.

Multinational Corporations (MNCs): Companies that operate in several countries, playing a significant role in globalization by integrating global markets and cultures.

World Trade Organization (WTO): An intergovernmental organization that regulates international trade, aiming to ensure smooth, predictable, and free trade flows between nations