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English definition of “glocalization”

glocalization

noun [U] (UK also glocalisation)     /ˌɡləʊkəlaɪˈzeɪʃən/ US   /ˌɡloʊkəlɪ-/ COMMERCE, ECONOMICS
the idea that local conditions must be considered in globalization (= trading in all parts of the world): Our policy of glocalization means that our products are always adapted to specific markets.
(Definition of glocalization noun from the Cambridge Business English Dictionary © Cambridge University Press)
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