The main features of globalization are: free trade and trade liberalization, foreign direct investment flows, global supply chains, technology transfer, cultural exchange, financial market integration, and the growth of international governance institutions.
What Are the Main Features of Globalization? Globalization is a multidimensional process with several distinct and interconnected features. Understanding these characteristics is essential for answering exam questions on what globalization is and how it works. 1. Trade Liberalization One of the defining features of globalization is the progressive reduction of barriers to international trade — tariffs, quotas, and regulatory restrictions. The GATT and later the WTO coordinated successive rounds