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Globalization is commonly understood as the process by which capital, goods, services, and labor cross national borders and develop a transnational character. It is often accompanied by the flow of related taste, ideas, and even values across boundaries, thus helping to reshape local political institutions, social relationships, and cultural pattern. Globalization is an emerging vision of the world and its resources as centrally organized by the global managers (such as the World Bank, International Monetary Fund (IMF), G-8 countries, World Trade Organization (WTO), and other transnational corporations).

Although use of the term globalization dates back only a few decades, many references can be found in 19th-century literature and social commentary to the changes in economic and social organization brought about by improved systems of transportation and ...

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