Globalization of World Economy
                     
Globalization of World Economy 



Globalization of World Economy 

Image Credit:Synergia Foundation 


Economic globalization is among the three primary size 

of globalization generally present in academic literature, 

using the two other being political globalization and 

cultural globalization, along with the general term of 

globalization.Economic globalization refers back to the 

free movement of products, capital, services, technology 

and knowledge. It's the growing economic integration 

and interdependence of national, regional, and native 

economies around the globe with an intensification of 

mix-border movement of products, services, 

technologies and capital. 


Technology 

  

Globalization is all about interconnecting people all over 

the world past the physical barrier of geographical 

limitations. 

  

These advances in economic globalization were 

disrupted by The First World War. The majority of the 

global economic forces built protectionist economic 

policies and introduced trade barriers that slowed trade 

growth to begin stagnation. 


Three recommended factors faster economic 

globalization: growth of science, market oriented 

economic reforms, and contributions by multinational 

corporations. 

  

Policy and government 

  

Economic globalization is among the three primary size 

of globalization generally present in academic literature, 

using the two other being political globalization and 

cultural globalization, along with the general term of 

globalization. 


Multinational corporations reorganized production to 

benefit from these possibilities. Labour-intensive 

production migrated to areas with lower labour costs, 

later adopted by other functions as abilities elevated. 

Systems elevated the amount of wealth consumption 

and geographical mobility. This highly dynamic 

worldwide system and effective ramifications. 


Global actors 

  

Worldwide governmental organizations 

  

An intergovernmental organization or worldwide 

governmental organization (IGO) describes a business 

produced by agreement, involving several nations, to 

operate in good belief, on problems with common 

interest. IGO’s shoot for peace, security and cope with 
social and economic questions. 


Worldwide non-governmental organizations (NGOs) 

  

To learn more, reference non-governmental organization (NGO) 

  

Despite its activity within one nation, NGOs work at solutions 

that may benefit undeveloped countries that face the backlash 

of monetary globalization. Considered any non-profit, voluntary 

citizens' group that is organized on the local, national or 

worldwide level. NGOs perform various services and 

humanitarian functions, bring citizen concerns to Governments, 

advocate and monitor policies and encourage political 

participation through provision of knowledge. 


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