globalization

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Nowadays one of the most commonly used terms is globalization. But what does globalization mean? Does it mean dissappearing borders, a common trade unit, no tax in trade abroad, political awareness across the world, or, in extremes, even interfering with other countries' domestic affairs?

In some ways globalization may be useful in creating a common sense of "world citizenship", but useful to what extent? What are the possibilities, advantages and risks of such "world citizenship"? Are the United Nations and the European Union, stepping stones to globalization?

Disappearing borders, in the economic meaning of the term can most clearly be seen today in Europe. The European Union restricts taxes on trade between members. Taking a step further the EU have decided on a common currency, the "Euro" , which became available at the beginning of 1999. This currency may economically be more functional but wh... Continue Reading