What do we mean by Globalization?

We are starting our second year of UniDiversity. New topics, new students taking part in the project and everyone thrilled about working together and meeting again this time in Poland on the ocassion of the next mobility in November.
Globalization is going to be the first topic to deal with. But, before starting with the different activites related to it, can you tell me what we mean by "Globalization"? Is it good or bad? Can you think of advantages and disadvantages?

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Please search for information on the internet and let's discuss about it in class.