Give a reasoned definition of the term globalisation.

Globalisation is a term which is hard to pin down to one exact definition, but broadly speaking it refers to the growth over time of goods, services and capital being traded via international markets.  One factor to bear in mind is that globalisation does not only refer to the movement of trade but also to the potential for it to move across borders of nations, finance, labor, technology and investment. International bodies like the International Monetary Fund (IMF) and the World Trade…(short extract)