Globalization : a general introduction

Abstract

Since the Industrial Revolution, the world has witnessed impressive developments in science and technology. For example, air travel has rendered the farthest place on Earth accessible in about twenty-four hours. Likewise, the impressive developments in media technology enable us to follow events on our TV screen while they are taking place thousands of kilometres away from home. Furthermore, the worldwide transfer of information and messages as well as economic transactions are only a mouse-click away. Indeed, the world has become a global village, and the advertisement that presents a leading financial institution as 'the world's local bank' is certainly not a paradox.