What is Globalization?

After working on Software Globalization for about 20 years, I've now started to get familiar with another completely different globalization concept which means the shift toward a more integrated and interdependent world economy. Globalization here includes the globalization of markets and the globalization of production. The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace. The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production (such as labor, energy, land, and capital).