What, if Anything Is New about Globalization?

Globalisation, according to Albrow (1990), refers "to all those processes by which the people of the world are incorporated into a single society, a global society."
The underlying processes of globalisation have been evident for some time, although they haven't made much impact on the world's economy until recently. Apart from the international trade in goods and services, which was relatively small, national economies have mainly stayed local. Now, however, it is a different story. In the past few years, the gradual processes that gave companies time to adjust have gone. …