Globalization in the Modern World

Covering a wide range of distinct political, economic, and cultural trends, the term “globalization” has quickly become one of the most fashionable buzzwords of contemporary political and academic debate. Globalization is not new, though. For thousands of years, people and, later, corporations have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914. So how can we explain what globalization is? There are lots of its definitions. For some people globalization is associated with erasing of broads between countries, simplifying and speedup of making bargains. For others it’s creating, development and spreading of unified culture and values.