Globalization

Most , if not all, of us may know or at least heard about the new term that has brought to us lately by Multinational Corporation (MNC) and big companies, which is globalization. Globalization as defined by Michael D. Bordo, a columnist in Business Economics magazine, is "the increasing close international integration of markets for goods, services and factor of production, labor and capital." Going back on the timeline to the late 1970's when globalization was still an unborn idea in the hand of some economists who foresaw the globe in thirty or forty years ahead. …