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Globalization

Globalization

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Published by Shinji

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Categories:Types, Business/Law
Published by: Shinji on Jul 05, 2011
Copyright:Attribution Non-commercial

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07/05/2011

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GLOBAL/INTERNATIONAL TRADE 
Submitted by:Edison LanaSubmitted to:Professor Raquel Castro
 
G
lobalization
‡
G
lobalization (or globalisation) describes the process by whichregional economies, societies, and cultures have become integratedthrough a global network of political ideas through communication,transportation, and trade. The term is most closely associated with theterm economic globalization: the integration of national economies intothe international economy through trade, foreign direct investment,capital flows, migration, the spread of technology, and militarypresence. However, globalization is usually recognized as beingdriven by a combination of economic, technological, sociocultural,political, and biological factors. The term can also refer to thetransnational circulation of ideas, languages, or popular culture through acculturation. An aspect of the worldwhich has gone through the process can be said to beglobalized.
 
W
orld Trade Organization ±International MonetaryFund
‡
G
lobalization has increased the need for closer cooperationbetween the multilateral institutions with key roles in theformulation and implementation of different elements of theframework for global economic policy, in particular the InternationalMonetary Fund (IMF), the
W
orld Bank and the
W
orld TradeOrganization. Each of these organizations has a mandate for suchcooperation in the agreements under which they have beenestablished. They also have signed agreements amongthemselves, for mutual cooperation and regular consultation, whichidentify mechanisms designed to foster greater coherence in global economic policy-making.

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