Today the term globalization is associated with concepts such as unity of economies and societies, the merging of civilizations, of manufacturing and trading companies with banks, change of customs’ policies, increase of trading relations, development of cultural and diplomatic relations, worries of developing countries. Globalization is in the best interests of a country if that country has fulfilled the conditions to enter the globalization torrent. Regionalization and internationalization are two important stages preparing an institution for entering the global arena. The digital revolution has not only impoverished a great number of people of low skills, but has increased the demand for people of high skills and, consequently, deepened the class differences. In this article, the writer, explaining globalization, clarifies the differences between localization, regionalization, internationalization and globalization. Also, the writer mentions the following as the main reasons responsible for the debts of developing countries: rationalization of the production process, rapid technological changes and using highly advanced production machinery.

Keywords: globalization, internationalization, regionalization, digital revolution