One can find multiple reasons, why companies, regions or nations group together into entities or networks, but there exists several key reasons. Among them: the phenomena of globalization, technological progress, new global opportunities and risks, higher customer requirements and higher value of information and know-how. Globalization is the dynamic complex of processes that has opened; linked and unified the globe since the end of the 19th century. Such unification has not had an occurrence before, even in the time of the Roman Empire. But it is obvious that globalization has never led to the rapid economic rise all over the world, but it has led to the bigger differences between rich and poor. This work concerns on the identification of the economic globalization in terms of its evolution in the first part of this article and on the actual development of globalization and related trends and risks in the second part.