Globalists believe Globalization is a real and evident process. They argue that examples of a significant shift in the geography of social relations can be seen in terms of economics, culture and politics. For example the recent effects that the US economy's down turn had on the share prices of British companies who trade and deal largely within US markets. We can see that international trade and investment has increased in recent years with many companies (notable many of those within the FT500) having bases and influence in many different countries e.g. Rupert Murdoch's global media empire, News Corporation, which operates within nine different media on six different continents. Culturally we can see everyday examples of what Globalists would call Globalization. In Britain we eat McDonalds and Sushi, wear Issey Miyake perfume, watch Manga films and play Sony Playstation games. Politically nation states do not hold ultimate power over all policies and all behaviour as a whole. National governments have joined to create larger international organizations e.g. United Nations or G8 (USA, Japan, Germany, France, UK, Italy and Canada, with the recent addition of Russia). Globalization, and the Northern Territories embracing of it, allows the dogged pursuit of free and open trade, where nation boundaries do not stand in the pathway of Capitalism but where, through freer and less rigidly controlled capital and goods traffic, unwanted trades such as illegal drugs are also allowed to prosper freely. .
Traditionalists would argue that the term Globalization' itself is merely a buzzword to describe a process that has occurred throughout history. In particular, they argue, the passage of goods and capital across national boundaries has happened for centuries, bringing with it the spread of different cultures and knowledge. Examples of this can be found e.g. Tobacco, paper, religion and medical beliefs and techniques.
