The Meaning of Globalization

Paper Summary:

This paper asserts that the term "globalization" has actually come to mean "Americanization". The paper explains that, while globalization was supposed to open up the world to companies and countries everywhere through the free movement of capital, labor and goods, plus the availability of technology, America has been the country to benefit most from the globalization process. The paper uses the example of American tobacco companies to illustrate how American companies have taken advantage of globalization to promote their businesses regardless of the cost to other countries. The paper concludes with the assertion that the rules of international trade, investment and finance require urgent reform and that the institutions that currently make the rules that govern the processes of globalization also require reform.

From the Paper:

"For more than a century an increasing number of domestic or national matters have become "internationalized," i.e., made the subject of bi- or multilateral cooperation, mostly in an institutionalized framework, a process which, in a wider sense, could be called internationalization. In the more recent past, however, the term globalization has entered into the vocabulary of scholars as well as political practitioners. Although it seems, at times, as if the new term is rather carelessly used as a trendy synonym for the word "internationalization," such interpretation of the term "globalization" would fall short of its distinct meaning."

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