<P> Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, services, technology, and capital . Whereas the globalization of business is centered around the diminution of international trade regulations as well as tariffs, taxes, and other impediments that suppresses global trade, economic globalization is the process of increasing economic integration between countries, leading to the emergence of a global marketplace or a single world market . Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon . Economic globalization comprises: Globalization of production; which refers to the obtention of goods and services from a particular source from different locations around the globe to benefit from difference in cost and quality. Likewise, it also comprises globalization of markets; which is defined as the union of different and separate markets into a massive global marketplace . Economic globalization also includes competition, technology, and corporations and industries . </P> <P> Current globalization trends can be largely accounted for by developed economies integrating with less developed economies by means of foreign direct investment, the reduction of trade barriers as well as other economic reforms, and, in many cases, immigration . </P> <P> International standards have made trade in goods and services more efficient . An example of such standard is the intermodal container . Containerization dramatically reduced transport of its costs, supported the post-war boom in international trade, and was a major element in globalization . International Organization for Standardization is an international standard - setting body composed of representatives from various national standards organizations . </P> <P> A multinational corporation or worldwide enterprise is an organization that owns or controls production of goods or services in one or more countries other than their home country . It can also be referred as an international corporation, a transnational corporation, or a stateless corporation . </P>

List of business organisations that have emerged as a result of globalisation