Globalization refers to the increasing internationalization of economic life and its effects on trade, national sovereignty, laws and regulations, the mass media, and cultural identity (Corcoran, 1998). In economic terms, globalization is the process by which firms attempt to earn additional profits through entry into overseas markets. Although the term “globalization” became popular during the last part of the 20th century, the forces that shaped globalization can be traced back as far as the 15th century. Europeled the move toward globalization through colonization in the 18th and 19th centuries. The United States led the most recent phase of globalization in the 20th century driven by the increasing access to communication technologies and the opening of international markets to multinational corporations and their advertising agencies. [download]
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