when did the term globalization come into use
Globalization Though many scholars place the origins of globalization in modern times, others trace its history long before the European Age of Discovery and voyages to the New World, some even to the third millennium BC.[6][7] Large-scale globalization began in the 1820s.[8] In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew very quickly. The term globalization is recent, only establishing its current meaning in the 1970s.[9]
G20 A 2011 report released by the Asian Development Bank (ADB) predicted that large Asian economies such as China and India would play a more important role in global economic governance in the future. The report claimed that the rise of emerging market economies heralded a new world order, in which the G20 would become the global economic steering committee.[40] The ADB furthermore noted that Asian countries had led the global recovery following the late-2000s recession. It predicted that the region would have a greater presence on the global stage, shaping the G20's agenda for balanced and sustainable growth through strengthening intraregional trade and stimulating domestic demand.[40]