It has been famously said that the world is flat. Economic globalization has torn down tariff and trade barriers, and has integrated the world economy. Globalization as a result has flattened the world. We live in a globalized world. If you have any doubt, just look at trade and financial services in Hong Kong, the booming gambling businesses in Macau and the manufacturing sector in Guangdong and elsewhere in China.
But globalization is first and foremost understood as a project in political economy that is shaping and restructuring the global order in ways that maximizes its compatibility with the value and interest of global capitalism. It relates principally to economic rationality.