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After two world wars, Europeans saw economic unification as an antidote to deadly nationalism. Technology complemented politics. Ever, before the Internet, declining costs for communication and transportation—from jet planes, better undersea telephone cables and satellites—favored more global commerce. By the early 1990s, world exports (after adjusting for inflation) were nearly 10 times higher than they had been four decades earlier.
两次世界大战之后，欧洲人把经济一体化看作对付沉闷的民族主义的一剂良药。技术与政治相辅相成。（在因特网发明之前，喷气式飞机、质量更好的海底通信电缆与人造卫星等技术使得通讯和交通成本持续下降，这有利于全球贸易的发展。到了20世纪90年代初期，全球出口量（去除价格上涨因素）几乎比40多年前高出了10倍。
Globalization continues this process but also departs from it in at least one critical respect. Until recently, countries were viewed as distinct economic entities, connected mainly by trade. Now, this is becoming less true. Companies and financial markets increasingly disregard national borders when making production, marketing and investment decisions.
全球化使这一经济进程持续着，但同时至少在一个关键方面发生了变化。直到不久前，国家一直被视为主要通过贸易来联结的独立经济实体。现在，情况已经不完全是这样了。各公司和金融市场在对生产、销售与投资进行决策时越来越不顾及国家间的界线了。
As recently as 1990, governments—either individually or through such multilateral institutions as the World Bank—provided half the loans and credits to 29 major developing countries (including Brazil, China, India, South Korea and Mexico), according to the Institute of International Finance, a banking industry research group in Washington.
就在1990年，据位于华盛顿的一家银行业研究机构——国际金融研究所的统计，由政府——不管是各自单独行动，还是通过像世界银行这样的多边机构——向29个主要发展中国家（包括巴西、中国、印度、韩国与墨西哥）提供了占半数的贷款和信贷。
A decade later, even after Asia's 1997-1998 financial crisis, private capital flows dwarf governmental flows.
十年后，甚至在1997到1998年的亚洲金融危机之后，私人资金流量已使政府资金流量相形见绌。
