This term describes what is taking place today in the world. In the past people have spoken about globalization, but it was a type of globalization that was taking place at a slow pace. However, when we speak about globalization today, it is taking place at a much quicker pace. The chief reason for this is due to technology.
Through technologies of communication and transportation, in particular, the world is getting smaller. Therefore, one part of the world is linked to another. Consider the advancement in shipping alone. We can order something from London and get it to New York within a day. The very popularity of overnight shipping is a case in point. Finally, there seems to be no slowing down in this trend.
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