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Despite being in theory, in existence for centuries, the term ?globalisation' was first used in 1944, although its prominent use by economists commenced in the 1980's. Globalization can be broken down into separate aspects: industrial globalization or transnationalization refers to the expansion and dominance of multinational organizations. Financial globalization is the emergence of worldwide financial markets and the increasing access to external financing for all levels of borrowers. Political globalization is the spread of political interests to areas of the globe formerly outside the political sphere (state and non state)...
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