Globalization

Every day you hear it on the news, you read it in the papers, you overhear people talking about it… and in every single instance the word globalization seems to have a different meaning. So, what is globalization?
At a top political and economic level, globalization is the process of denationalization of markets, politics and legal systems, the rise of the so-called global economy. The consequences of this political and economic restructuring on local economies, human welfare and environment are the subject of an open debate among international organizations, governmental institutions, and the academic world.
At a business level, we talk of globalization when companies decide to take part in the emerging global economy and establish themselves in foreign markets. First they will adapt their products or services to the final user's linguistic and cultural requirements. Then, they might take advantage of the Internet revolution and establish a virtual presence on the international ma...