Abstract
Michael D. Bordo, Professor of Economics and Director of the Center for Monetary and Financial History at Rutgers University, says, in Globalization in Historical Perspective (2002), says "globalization has become a buzzword of the new millennium". Indeed the term globalization is now part of our current language and globalization is nowadays probably the most widely used word: politicians, journalists and others such as firm managers or even ordinary people often use the word. Globalization has been one of the most hotly debated topics in international economics over the past few years. So it is clear that it is a phenomenon that is the subject of numerous comments or analysis. The term is used in a lot of different contexts, but in contemporary jargon it principally refers to economic globalization.
