Summary, Glossary

• Globalization is the integration of country with the world economy.

• The three stages of Globalization : • Archiac Globalization • Proto Globalization • Modern Globalization.

• LPG – Liberalization, Privatization, and Globalization

• Multi National Company is a corporate organization which owns or control production of goods and services in at least one country to other than its home country.

• MNC otherwise called Transnational Company(TNC) and Multinational Enterprises(MNE).

• GATT was signed by 23 countries in 1947. India was one of the founder members of GATT.

Glossary

globalization: the process by which businesses or other organizations develop international influence or start operating on an international scale. உலகமயமாக்கல்

archaic: of an early period of art or culture, especially the 7th–6th centuries BC in Greece. தொன்மையான

evolution: the gradual development of something பரிணாம வளர்ச்சி

evolution: the gradual development of something பரிணாம வளர்ச்சி

mortgaged: expose to future risk or constraint for the sake of immediate advantage. அடமானம் வைக்கப்பட்ட

spurt: cause to gush out suddenly. திடீர்

detrimental: tending to cause harm சீரழிவான

thriving: prosperous and growing; flourishing. வெற்றிகரமான