oa South African Journal of Economic and Management Sciences - Post-Soviet globalisation

Volume 4, Issue 3
  • ISSN : 1015-8812
  • E-ISSN: 2222-3436



In this paper, I will focus on the current situation with regard to globalisation from a historical perspective, while I will also look at possible future developments. The term globalisation appeared in a dictionary for the first time in 1961, but the concept of globalisation is not always clear. According to Levitt (1993) a global corporation ""operates ( ... ) as if the entire world (or major regions of it) were a single entity; it sells the same things in the same way everywhere"". This describes a problem of some of US companies operating in foreign markets rather than to define globalisation meaningfully. Globalisation is sometimes viewed as synonymous to internationalisation, increasing international interdependence, or as a development towards relations acquiring relatively distanceless and borderless qualities. I interpret globalisation as economic integration of countries in the world economy on the basis of open markets and free movement of goods, services, workers and capital.

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