Globalization

Paper Summary:

This paper discusses globalization in the context of the growth of international commerce as huge transnational companies (TNCs), which use the entire world, rather than just one country, as their marketplace. The author points out that globalization includes the growth of international trade and the international flow of people, technologies, raw materials, money and products. The paper argues that globalization has reached such proportions that it is beginning to operate as a kind of new colonialism perpetrated by the powerful industrial countries, particularly the U.S.A..

From the Paper:

"Is the United States becoming a hegemonic power under globalization? The phenomenon of globalization is widely talked about at the moment. There are different definitions of what globalization actually is, but in this context I am referring to the growth of international commerce as huge transnational companies (TNCs) use the entire world, rather than just one country, as their marketplace. This is combined with the growth of international trade, and the international flow of people, technologies, raw materials, money and products. It is argued that globalization as here defined has reached such proportions that it is beginning to operate as a kind of new colonialism perpetrated by the powerful industrial countries, and in particular by the USA."

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