IMF’s Definition

The International Monetary Fund‘s official stance on globalization is that:

Globalization refers to the iInternational_Monetary_Fund_logo.svgncreasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders

The term began to be used more commonly during the 1980s, which is a reflection of technological advances that made it easier and quicker to complete international transactions.

Globalization implies that information and knowledge is dispersed and shared.

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