Globalization is the trend toward greater economic, cultural, and interdependence among national institutions and economies.
regional; national
temporary; mutual
domestic; international
political; technological

political; technological

However, probably the most dangerous thing about globalization is that because most countries would operate a free market, then the bigger nations are able to kill off the smaller nations that are third world countries. Since the bigger nations have more manpower and more resources, they can provide better products. This in turn would mean big competition for the third world countries in a global market. This would be very harmful to those developing countries. 

Typically, los inflation is a sign of a healthy economy because it results from a steady rise in demand.