Economic globalization

Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase incross-border movement of goods, service, technology, and capital.[Whereas globalization is centered on the rapid development of science and technology and increasing cross-border division of labor, economic globalization is propelled by the rapid growing significance of information in all types of productive activities and marketization, and the advance of science and technologies. Depending on the paradigm, economic globalization can be viewed as either a positive or a negative phenomenon.