Meaning of the word globalisation in English

What does globalisation mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

globalisation

US /ˌɡləʊbəlɪˈzeɪʃən/
UK /ˌɡləʊbəlaɪˈzeɪʃən/
"globalisation" picture

Noun

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

Example:
The internet has greatly accelerated the pace of globalisation.
Critics argue that globalisation can lead to job losses in developed countries.