What is different about the current globalization is not so much the scale of flows, but their character. While it has become a dominant force in the last decade of the twentieth century as it was in the last decade of the nineteenth, it has new features: new markets (e.g., globally linked financial markets working around the clock with new instruments, global consumer markets with global brands, e- commerce), new actors (e.g., multinational corporations, the World Trade Organization, proliferation of international NGO’s, regional blocs, policy coordination groups), new rules (multilateral agreements in trade, conventions on human rights, on global environment), and new tools of communication (e.g., cell phones, faxes, e-mail).
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