“Globalization” has long been a buzzword, and has only been gaining steam in today’s increasingly inter-connected world. It is essentially used to refer to growing trade and investment, especially with international businesses and economic integration abroad.
One of the greatest effects of globalization has been the rise of multinational companies. These businesses are typically headquartered in one country, but have a presence in other regions of the world. Manufacturers who have a global presence usually have certain steps of production carried out in various countries, where advantages can be leveraged.