There has also been a shift in power away from the nation state and toward, some argue, multinational corporations. With increased economic interconnection has come deep-seated political changes – poorer, ‘peripheral’, countries have become even more dependent on activities in ‘central’ economies such as the USA where capital and technical expertise tend to be located. The speed of communication and exchange, the complexity and size of the networks involved, and the sheer volume of trade, interaction and risk give what we now label as ‘globalization’ a peculiar force. However, many believe the current situation is of a fundamentally different order to what has gone before. Globalization in the sense of connectivity in economic and cultural life across the world, has been growing for centuries. This political project, while being significant – and potentially damaging for a lot of poorer nations – is really a means to exploit the larger process.

Rather confusingly, ‘globalization’ is also used by some to refer to the efforts of the International Monetary Fund (IMF), the World Bank and others to create a global free market for goods and services. That spread has involved the interlacing of economic and cultural activity. ‘Globalization’ is commonly used as a shorthand way of describing the spread and connectedness of production, communication and technologies across the world. See, also, globalization and the incorporation of education capitalism, markets, instability and division.globalization and the rise of the multinationals and branding.risk, technological innovation and globalization.globalization: delocalization and supraterritoriality.

Here we examine some key themes in the theory and experience of globalization. But what people mean by ‘globalization’ is often confused and confusing. It has also become a key idea for business theory and practice, and entered academic debates. Globalization: theory and experience.’Globalization’ is a favourite catchphrase of journalists and politicians.

Globalizing city definition