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Consider the Impact of Globalisation on Wales Globalisation is a term that came about in the mid eighties when it replaced terms such as internationalisation and Transnationalisation as it was deemed to be more suitable for describing cross border human interaction and trade. Globalisation covers many different concepts including social, political and economic and so therefore many people disagree in what it's exact definition is and whether or not it is actually happening. Paul Hirst, professor of social relations at Birbeck College, London University, and author of War and Power in the 21st Century has defined globalisation as 'increasing flows of trade and investment between parts of the world and between countries'. He believes globalisation started in the 1920s when people attempted to revive the pre-1914 liberal economy, but this had failed by the 1930s with Britain and Germany losing forty per cent of their foreign trade and the world economy...

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