liberalization of the trading system - lowering and / or removing trade barriers such as tariffs, quotas and subsidies, interdependent - dependent on one another; mutually dependent, stakeholders - all the people who stand to gain or lose by the policies and activities of a business, and whose concerns the business needs to address, reasonable - fair and sensible, governance - the process of governing, interconnected - mutually joined or related, ramifications - consequences of an action or event, especially when complex or unwelcome, tarrifs - a tax on imported goods, quotas - limitations on the amount of specific products that may be imported from certain countries during a given period of time, bans - does not allow, catalyst - something that brings about a change in something else, multi-national corporations - companies that have centres of operation in many parts of the globe, NGO - non-governmental organization, McWorld - the idea that globalization homogenizes (makes the same) and Americanizes different cultures, sub-Saharan Africa - Africa, south of the Sahara desert, culture - beliefs, customs and traditions of a specific group of people,

Vocabulary: Globalization

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