How Does 21st Century Globalization Differ From 20th Century Globalization?

Globalization impacts our work, lives and world in a complex array of ways. Globalization is sometimes narrowed down to the areas of economics and trade, but with the notions of interconnectedness and interdependence, globalization shows itself in many ways. It interweaves lives, communities, companies, countries and continents. Globalization is how cultures and societies develop, how ideas moving around the world and, and how people interact around the world.

With the 20th century being a century of two world wars, globalization was set back in the interwar periods, as governments retreated to financial autocracy and trade protectionism. Subsequently, the 20th century also gave birth to the opposite scenario, stronger ties between nations

Migration in the 20th century was characterized by migration from Europe to the New World, but as international migration becomes more complex, it raises new practical challenges for global society in the 21st century, such as urbanization and inequality. More people are now living in cities than in rural areas and slums are the world’s fastest growing habitat in the 21st century.

When looking into how much 21st century globalization differs from 20th century globalization, it truly highlights the pressing global challenges which the world, its institutions, businesses and individual citizens face. In the 21st century we face the consequences of 20th century globalisation with challenges in climate, urbanization etc.

Culture and society, how our organizations, communities and behaviours are changing as the pattern of globalization is shifting. As flows of physical goods were the characteristic for the 20th century globalization, 21st century globalization is increasingly defined by digital flows of data and information. Digital platforms allow more countries and smaller enterprises to participate. The most compelling way in which 21st century globalization differs from 20th century globalization is through digitization. Digitization is making globalization more inclusive, as small businesses and individuals now have the same global outreach, which previously was reserved to governments and large multinational