ABSTRACT
This chapter argues that 'globalization' provides an inadequate description and understanding of worldwide trends and developments. In the process of critically analysing the notion of globalization, and supporting the greater intellectual relevance of the concept of imperialism, it critically discusses the presuppositions and claims of globalization theorists. Then the chapter proceeds towards a systematic critique of globalization theory. This is followed by an argument in support of an alternative way of understanding worldwide trends and developments based on the concept of 'imperialism'. An important issue involved in academic debates focuses on how to view recent trends and developments in the world economy. Imperialism emphasizes the domination and exploitation by imperial states and their multinational corporations and banks of less developed states and labouring classes as well as international competition and cooperation among the rival imperial states and enterprises.
