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 Process by which the experience of everyday life, marked by the

diffusion of commodities and ideas, is becoming standardized
around the world. Factors that have contributed to globalization
include increasingly sophisticated communications and
transportation technologies and services, mass migration and
the movement of peoples, a level of economic activity that has
outgrown national markets through industrial combinations and
commercial groupings that cross national frontiers, and
international agreements that reduce the cost of doing business
in foreign countries. Globalization offers huge potential profits
to companies and nations but has been complicated by widely
differing expectations, standards of living, cultures and values,
and legal systems as well as unexpected global cause-and-effect
linkages.
http://www.merriam-webster.com/dictionary/globalization
 Maoist China, Cuba,

North Korea

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Globalization

  • 1.
  • 2.  Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries. Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages. http://www.merriam-webster.com/dictionary/globalization
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.  Maoist China, Cuba, North Korea