Explanation: The concept of Globalization was popularized by the Organization of Economic Cooperation and Development (OECD) in the mid-1980s again after the Wars.

• In its earlier deliberatization, the organization had defined globalization in a very narrow and business-like sense— ‘any cross-border investment by an OECD company outside its country of origin for its benefit is globalization’.
• After this summit of the OECD, proposals for replacing the GATT by the WTO were pushed by the developed economies of the world, better known as the starting of the Uruguay Round of GATT deliberations which ends in Marrakesh (1994) with the birth of WTO.

Source: Ramesh Singh