Globalization

It is nowadays hard to imagine that less than three decades ago the notion of globalization did not figure in the vocabularies of academics, policy makers, protesters, and business leaders. Globalization as a notion is rather new. It has replaced concepts such as internationalization and transnationalization (common until the late 1980s) because the notion/idea of globalization better reflects a new condition in worldwide economic, political, and cultural relations. Two clear differences mark this shift in conceptualization.