Although globalisation has many facets, economic globalisation - the removal of
barriers to trade and investment through trade liberalisation, privatisation and
deregulation - is the dominant trend from which political and cultural globalisation flow.
The aim of economic globalisation is to remove the obstacles to the global movement of
capital and the production of goods and services that have accumulated in industrially
developed capitalist countries.
Today's globalisation could be called 'corporate globalisation' or 'global
corporatization', considering that corporations not only produce goods and services but
also define and control economic as well as social, political and cultural aspects of our
For the purposes of this paper we will focus on the challenges of economic
globalisation and will offer suggestions for how to understand the potential for political
and cultural globalisation.