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English definition of “globalization”

globalization

noun [U] (UK usually globalisation)     /ˌɡləʊ.bəl.aɪˈzeɪ.ʃən/ US  /ˌɡloʊ-/
C1 the increase of trade around the world, especially by large companies producing and trading goods in many different countries: We must take advantage of the increased globalization of the commodity trading business.Environmental issuesRubbish and wasteProtection and protectors a situation in which available goods and services, or social and cultural influences, gradually become similar in all parts of the world: the globalization of fashion/American youth cultureBusiness and commerce - general words
(Definition of globalization noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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