Book excerpt: The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. This volume defines and makes sense of the workings of the global economy—and how it influences businesses and individuals. Each chapter identifies common questions and issues that have gained exposure in the popular media—such as outsourcing, the high cost of international travel, and the impact of a fast-growing China—to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events,Globalization illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives.