What does «globalización» mean in Spanish?
- Globalization is the process of increasing interaction between people, companies and governments around the world, in which traditional political, cultural and economic barriers can be broken down. It is a controversial process, as some believe it makes new resources and opportunities available, while others believe it destabilizes functioning social systems for the sake of alliances and financial cooperation that have no popular legitimacy. Globalization has a significant effect on traditional nationalist political-military doctrine, and even on the role of quasi-states. Transnational corporations can effectively wage economic warfare. Not that globalization is new, but the scale of globalization is new, accelerated by technology. International trade, not to mention invasion, has been a form of globalization for millennia, like the Silk Road through Central Asia from East Asia to Europe. In some cases, corporate "pseudo-people" can assume the role of colonialist powers. Job losses, "brain drain" and resource exploitation are all causes for concern. Acceleration suggests that the current wave of globalization has qualitative differences. Since 1950, for example, the volume of world trade has increased 20-fold, and from 1997 to 1999 alone, foreign investment flows nearly doubled from $468 billion to $827 billion. Distinguishing this current wave of globalization from previous ones, author Thomas Friedman has said that globalization today is "farther, faster, cheaper and deeper."