**Preface XI**


Federico Ast


Preface

Globalization is a fascinating word as well as a popular topic for research. If one looks up this word on any internet search engine, he or she can find many different definitions of globalization. In general, it is fair to define globalization as a process of interaction and inte‐ gration among people, businesses, institutions, and governments of different countries in many aspects surrounding human lives. In its 2008 Globalization Issue Brief, the Interna‐ tional Monetary Fund (IMF) related globalization to international investment, spread of technology, strong institutions, sound macroeconomic policies, educated workforce, and ex‐ istence of market economy and global economy. Figure 1 shows the volumes of internation‐ al trade, including merchandise and services, during the period 1990–2017. If international trade can be seen as one of the indicators for globalization from the international economic

In fact, the impacts of globalization are not only on business or international trade, but also on other formal and informal institutions, such as politics, culture, and value. For instance, with a higher level of globalization, one may argue that people tend to increase international

perspective, this trend appears to be upward in the long run.

**Figure 1.** World International Trade by Exports (1990-2017) Data source: World Trade Organization (WTO), https://data.wto.org/

