However, there is no single definition of what globalisation actually means nor is there a single key figure for measuring its scale and evolution over time. To me, a useful starting-point is, quite fundamentally, the notion that globalisation describes the ongoing process of the international division of labour.
In the wake of this process, the domestic markets for goods and services, as well as labour markets, are becoming more and more interlinked and interdependent internationally. In the absence of a single yardstick to gauge the extent to which globalisation is evolving, it is useful to look at various developments that, in combination, capture this process.