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Globalization may refer to:

1.the process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications

2. the emergence since the 1980s of a single world market dominated by multinational companies, leading to a diminishing capacity for national governments to control their economies

3. the process by which a company or enterprise expands to operate internationally

Markets used to be constrained to small geographic areas. For instance a lumber industry in Montana: trees are logged, milled and sold all within Montana. Now, trees are grown and logged in Canada, logs transferred to the U.S. for milling, and finished lumber sent to Another Country. Not a great example. But globalization in general is the expansion of all parts of markets to a global level. Labor for an industry is competing all over the world. Programmers in California are competing with those in India. Japan and Detroit were competing on cars. Now China and Vietnam are joining.
Integration of national Economics into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence.

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