In the past different regions such as the United States, Europe, Japan had their own locally designed and manufactured products, across all products from automobiles and consumer goods down to integrated circuits and passives. And services were inherently local. This served to keep markets and cultures distinct and running on their own cycles.
However, over the last 50 years this diversity, both economic and cultural, has gradually been eroded. Design and manufacturing has been concentrated in global champion companies such as Airbus and Boeing, Toyota and Daimler, Microsoft, Intel, Samsung and TSMC. This is primarly driven by ecomomics and it the manifestation of the idea that "the free market tends towards monopoly."
The other factor that has accelerated globalization and the destabilized of many traditional business models has taken place over the last 15 years. It is the rise and rise of the Internet. This is driven by a technology that means services can now also be global. Amazon has become the world's book supplier. The Internet also means that anyone in the world, can suck in the latest news, analysis and opinion from anywhere around the world within seconds, rapidly accelerating the feedback cycle within the system.
In other words the virtual world of internet communications is binding almost all geographically-separated interest groups together closer than any kind of physical proximity ever could. And the global champion company of the Internet is Google.
The electronic circuit parallel is what happens when you close-couple dynamic systems, and then increase the positive feedback between the elements of the system, as the internet has done in the global economic system. First it starts to oscillate, then oscillate wildly as it goes into a chaotic behavior and this, if allowed to continue, could eventually tip the system over into some sort of self-destructive thermal runaway.