The WTO, World Bank and IMF: World Globalization

In the simplest possible terms, globalization is, “A process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade.” The term globalization however, has come to encompass a wide variety of meanings to different people.

The term can be stretched as far back as the 15th century in Asia, where some of the first great movements of trade and empire were demonstrated. Today, most people referring to globalization are recognizing issues such as world trade, global financial institutions, global-corporate interests and global-political interests.

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