By ESPON TIGER, 2012.
Globalization is either considered as a new era or as in continuity with long terms trends in the world capitalist history. From the latter view point, the extension of markets is in the very nature of capitalism. The increase in cross border flows between economies of the world is not a new or recent phenomenon. As early as the sixteenth century, European powers built a world system of economic exchange, supplying their own needs, which resulted in growing trade across seas.
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