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Globalization refers to the increasing interconnectedness and interdependence of economies, societies, and cultures around the world through cross-border movement of goods, capital, services, technologies and people. The document discusses both the advantages and disadvantages of globalization, noting that while it can increase competition, investment and spread of technical knowledge and education, it can also lead to economic problems, cultural issues, unemployment and the spread of diseases as various cultures, economies and societies increasingly interact and interconnect on a global scale.