These trends don’t mean globalization is over. Rather, it is simply entering a fourth stage. While globalization has peaked with respect to factory production, it is advancing when it comes to the flow of services and ideas. KFC, formerly Kentucky Fried Chicken, is far and away the largest restaurant chain in China. The leading soccer teams in England’s Premier League, few of them either starring or owned by Englishmen, are widely watched across Africa. More and more of the largest multinational enterprises are companies whose products are intangible — software, accommodation, real estate, computer services.

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