GLOBALIZATION OF THE WORLD-ECONOMY

'Globalization of the world economy' rolls trippingly off the tongue, The thing itself is 450 years old. By 1600 AD there was large-scale tr ade from the Americas and Asia into Europe. A poor country Spain - use d its great new mineral wealth from the Americas to support all its ol d unproductive habits and to buy glory. The sun never set on the Spani sh domains, the first global empire in history. It did not shine there for long. Copyright (C) 1996 Published by Elsevier Science Ltd.