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These innovations have given greater importance to a process the world has come to know as globalization. One thing is for sure, globalization is challenging for existing cultures throughout the world, and this is because they realize they need to turn to other cultures for support.
Globalization has two main components; globalization of markets and globalization of production. Globalization of markets refers to the merging of distinctly separate markets into one huge global marketplace, while globalization of production refers to the sourcing of goods and services from locations around the globe in an effort to take advantage of national differences in the cost and quality of production...
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