Globalization represents the proliferation of relations on a global scale. Through these interactions, elements within the global economy become differentiated or specialized with respect to each other – thus, emerging some form of global coordination and organization. A central dynamic to the process of globalization is a shift from a system that was or is primarily organized through the well-defined, well-bounded centralized structure of nation states, to one that is increasingly defined as a multi-dimensional set of global networks. The theory of globalization tries to capture the breadth, depth and pace of change underway in human society in the early 21st century brought about by this heightened global interconnectivity and interdependency.
