The Importance Of Economic Globalization

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Economic Globalization refers to those world Economic activities that beyond borders. The process happens through foreign trade, capital flows, transferring technology, providing services, interdependence and mutual connection. It is the flow of goods, technology, information, services, money, people and other factors of production across the region (Das, 2010). The world is increasingly becoming to be a new world. The gap between each sides will no longer be a huge gap. Economic globalization is one of the most important characteristics of the contemporary world’s economy and an important trend of the development of the world economic (Das, 2010). The process of economic globalization has already begun. Since the 1990s, the process of global economic globalization has been greatly accelerated, because of the political reasons (Das, 2010). Economic globalization, which is beneficial to reasonable allocation of resources and factors of production in the world, and beneficial to the capital flow of products in the world. It is conducive to expand science and technology in global area, and conducive to the development of economy in underdeveloped areas. It is usually the sign of human development and progress and the inevitable result of economic development all over the world. But it is a double-edged sword for every country. It is an opportunity and a challenge at the same time. In particular, for the developing countries with weaker economic strength, backward science,
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