| Abstract: | The world has entered a globalization era in the true sense of the expression. In the words of Thomas Friedman, author of the best seller The World Is Flat, though the globalization process began in as early back as 1492 when Christopher Columbus's first voyage to the Americas opened up wade between the old and the new world, yet only now are we ushering in "an entirely new era of globalization 3.0." Unlike its two predecessors of globalizations 1.0 and 2.0,the current one, driven increasingly by non-white, non-western institutions, is a truly worldwide process, a matter of crucial significance. |
