Globalization

From The Free Forex Encyclopedia

Jump to: navigation, search

Globalization is the term used to describe how vastly different economies and cultures have easily integrated themselves with one another through communication, transportation, and economic policies. Through technological advances and outward-looking government policies, the interdependence of various economies with one another has drastically increased.

One of the best examples of globalization is the formation of the World Trade Organization, or WTO. Made up of 144 countries, the WTO is a worldwide institution that sets up rules and regulation to that govern international trade.

"We learn wisdom from failure much more than from success. We often discover what will do, by finding out what will not do; and probably he who never made a mistake never made a discovery."
Samuel Smiles
Clicky Web Analytics