THE FOUR Ps OF GLOBALIZATION Box 1.0 - The Phenomenon of Globalization Globalization is a not a novel phenomenon. It has occurred in three distinct waves. 1. In the first wave, the age of discovery (1450-1850), globalization was decisively shaped by European expansion and conquest. 2. The second wave evidenced a major expansion in the spread and entrenchment of European empires. 3. The contemporary globalization (1960 on) is defined by the technological/communication revolution, so that today the Box 1.1 - The Process of Globalization The process of globalization is driven by three engines: technics (technological change and social organization); economics (markets and capitalism); and politics (power, interests, and institutions). Technics is central to any account of globalization since it is a truism that without modern communications infrastructures, in particular, a global
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