Globalisation is a multi-dimensional concept. It has political, economic, and cultural manifestations, and these must be adequately distinguished. It is wrong to assume that globalisation has purely economic dimensions, just as it would also be mistaken to assume that it is a purely cultural phenomenon. The impact of globalisation is vastly uneven — it affects some societies more than others and some parts of some societies more than others.

What is distinct about contemporary globalisation?

The scale and speed of the flow of ideas, capital, commodities, and people.

If globalisation is about the flows of ideas, capital, commodities, and people, it is perhaps logical to ask if there is anything novel about this phenomenon. Globalisation in terms of these four flows has taken place through much of human history. However, those who argue that there is something distinct about contemporary globalisation point out that it is the scale and speed of these flows that account for the uniqueness of globalisation in the contemporary era.