globalization

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Globalization

Tendency toward a worldwide investment environment, and the integration of national capital markets
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Globalization

The integration of global markets by the reduction trade barriers, improved communication, foreign direct investment, and other means. Globalization allows a multinational corporation to make a product in one country and sell it in another. This provides jobs in one country and less expensive goods in the other. Globalization also allows for the free flow of capital between countries, which many believe spurs economic growth. Proponents of globalization argue that it allows developing countries to continue and hasten their levels of development, and that it protects consumers in developed countries. Opponents believe that globalization serves the interests of multinational corporations at the expense of small businesses, which sends jobs to other countries needlessly.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

globalization

the tendency for markets to become global, rather than national, as barriers to INTERNATIONAL TRADE (e.g. TARIFFS) are reduced and international transport and communications improve; and the tendency for large MULTINATIONAL ENTERPRISES to grow to service global markets. See INTERNATIONALIZATION.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

globalization

the tendency for markets to become global, rather than national, as barriers to INTERNATIONAL TRADE (e.g. TARIFFS) are reduced and international transport and communications improve, and the tendency for large MULTINATIONAL COMPANIES to grow to service global markets.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
A pro-globalization scholar points out that to address the challenges of globalization, the following must be ensured:
In the words of Stanley Fischer, "...many of those who regard themselves as pro-globalization, myself among them, know that there is far too much misery in the world, that there are many wrongs to be righted in the global economy, and that it could be made to operate much better.
Acknowledging this empirical uncertainty and drawing careful and cautious conclusions is the only way to proceed, but this is not the route that some pro-globalization economists, such as Sala-i-Martin and those who rely exclusively on his findings, seem willing to take.
Companies like Hyundai and Samsung should have emerged in India, not South Korea, if Indian businesses had adopted a more pro-globalization attitude.
The AKP's pro-Western and pro-globalization policy agenda
In general, on Capitol Hill elements of both political parties today seem less enamored of the pro-globalization, pro-free-flowing capital policies of Bill Clinton than of the inward-looking economic and trade policies of Pat Buchanan.
President Thabo Mbeki of South Africa, an originator of the pro-globalization New Partnership for Africa's Development (Nepad), says that Africa must embrace the process but warns that it is leading to rising inequalities between and within countries.
Moore himself acknowledged that "those who oppose us are not all fools and frauds." Former Fed vice chairwoman Alice Rivlin referred to the assembled policy thinkers as a "pro-globalization elite" and warned that the critics in the streets were raising many legitimate objections.
Notice that even those politicians once firmly in the pro-globalization camp are beginning to hedge their bets.
But in the end, three million progressives could not find enough reason to support the pro-death penalty, pro-globalization, pro-corporate poster boy of the Democratic Leadership Council.
Except for the rigid IMF and US Treasury Department, two sets of pro-globalization academic and political leaders have broken away.