The worldwide integration of products, services, employment, people, cultures, markets, and economies and the compression of both time and distance that often accompanies it. Globalization often refers specifically to the growing economic interdependence of countries worldwide through increasing cross-border transactions in goods and services, free flow of international capital, and more rapid and widespread diffusion of technology.
Globalization is often confused with commercialization, where multination organizations exert global control over markets, workers, and customers. Globalization, in itself, is not necessarily a bad thing. Global interdependence, for example, can be a key ingredient to peaceful understanding and interaction between disparate cultures and communities.