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Two decades have passed since the word "globalization" started showing up with any frequency in discussions of business and economics. At first, the focus was on Western companies' trying to compete with cheaper, sometimes better imports from Japan, South Korea, China and other countries. Later on, things became more complex. Asian companies started designing and assembling products in the West. Western companies opened up new fronts by sending jobs abroad -- not just in manufacturing but in service industries as well.
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