Globalization

Globalization

1. Capitalism

   • Individuals over government (means of production)

2. Developing countries

   • Countries classified as low or middle income nations.

3. E-Commerce

   • Internet-based commerce and economic transactions

4. Homogenization

   • Making something uniform or similar

5. International Monetary Fund (IMF)

   • International organization of 189 countries. Cooperation, exchange, growth of international trade

6. Mercantilism

   • Nation’s prosperity is based on its supply of capital

7. Multilateral

   • Participation of more than two countries

8. Multinational corporation

   • Corporation that conducts business in more than one nation

9. Offshoring

   • Transferring organizational functions to another country

10. Outsourcing

    • Transferring noncentral functions to another entity to complete

11. Protectionism

    • Protect domestic industry and economy from foreign competition

12. World Bank

    • Provides aid to countries seeking to participate in international exchange and to reduce poverty around the world

13. It is a form of integration; cultural, biological, and political homogenization on a global scale. It began when large cultures began to exchange resources with or attempt military conquest of other cultures

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