Globalization: the widening, deepening and speeding up of worldwide interconnectedness: hyperglobalists argue that it is undermining the sovereign nation state, sceptics reject the idea of globalization, transformationalists argue that both are over exaggerated. Tncs account for 70% of world trade and 80% of international investment due to globalization. Transnational problems require global solutions or regulations such as climate change. Transnational issues has led to international organizations that regulate like the imf and the. The concept of globalization implies radical shifts in social and economic organization. Power is increasingly organized and exercised from great distances. Globalization is to be distinguished from internationalization and regionalization. One of the problems with a sceptic"s view on globalization is that it tends to view globalization in purely economic terms. Globalization affects all areas of social activity including economic, military, legal, ecological, cultural and social. Globalization is not global, but rather asymmetrical. Rich countries are more globalized than poor ones, like the sub-saharan countries.