Answer:
Economic globalization refers to the economic interdependence of nations resulting from mutual trade.
Explanation:
Economic globalization is the process of enhancing economic integration between countries, that leads to the merger of individual national markets into one global market.
Economic globalization includes the globalization of production capacities, markets, competition, technology, corporations and industries.
Manifestations of economic globalization have been observed over the past millennia, since the advent of international trade. However, in the last 30 years, there has been a rapid increase in the pace of this phenomenon. This surge has been driven to a large extent by the process of integrating the economies of developed countries with the economies of developing countries. The processes of foreign direct investment, the reduction of trade barriers and the modernization of the economies of developing countries contribute to these phenomena.
