Globalization : Partnerships, Modernization and Future PerspectivesThere are probably few concepts less understood, more cursed and blamed for everything imaginable, and yet perhaps result in so many outstanding developments as globalization. Globalization is the process of denationalization of markets, politics and legal systems, i.e., the rise of the so-called global economy. The consequences of this political and economic restructuring on local economies, human welfare and environment are the subject of vigorous debate among businesses of all sizes, various international organizations, governmental institutions and the academic world.