ABSTRACT
While the term ‘globalisation’ is so commonly used that it is on the verge of becoming ubiquitous defi nitions differ.1 Narrowly, globalisation has been used to refer to the growing economic interdependence of countries worldwide. For instance, the World Bank uses the term globalisation to describe ‘the growing integration of economies and societies around the world’.2 The World Trade Organisation (WTO) defi nes it as ‘a historical stage of accelerated expansion of market capitalism . . . a fundamental transformation in societies . . . a recombining of the economic and social forces on a new territorial dimension’.3 The International Labor Organisation (ILO) explains it as ‘encompass[ing] the dynamic process of international trade and fi nance that interconnect and increasingly integrate national economies’.4
