>Here is the salesman’s perspective. A website or software must first be internationalized/globalized before it can be localization. Globalization is the process of getting the code up to speed so that it can handle when a different language is put in for text. Localization is actually taking the source language (i.e. English) and making it into a localized language (i.e. LatAm Spanish). This is what we do at Sinometrics.
In reading today here is how a SLE (Software Language Engineer) would describe the difference from Dot Net Guts, here. And a previous entry from them, here.
What a difference, huh.
Web Theologian 
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