Actually it isn't. As Peter Thiel would say, globalization is the copying of existing technology, it is not the manufacture of new ones.

One reason we have stagnated can be revealed in the bias of our new language. Where we once used the terms "1st World" and "3rd World" we now use "Developed" and "Developing" -- language that is excessively bullish about globalization while implicitly pessimistic about technology.