How does economic globalization develop?

The factor leading to that rapid development of economic globalization are as follow: first, the progress of science and technology and the development of productive forces have provided a solid foundation for economic globalization, especially the information technology revolution since the 1970s, which not only accelerated the speed of information dissemination, but also greatly reduced the cost of information dissemination, broke the restrictions of various regions and even countries, and linked the whole world together as never before. It has promoted the rapid development of economic globalization. Secondly, the development of multinational corporations provides a suitable enterprise organization form for economic globalization. Multinational companies use the advantages of various places to organize production on a global scale, which greatly promotes the global flow and international division of labor of various production factors, thus greatly promoting the process of economic globalization. Finally, the economic systems of various countries have changed. Since 1990s, the traditional planned economy countries have abandoned the planned economy system and turned to the market economy. In order to get rid of economic stagflation, developed capitalist countries have weakened the state's control over the economy and strengthened the spontaneous adjustment of the market mechanism. Internationally, with the establishment of the World Trade Organization, its members have greatly relaxed their control over their own or local markets. The process of trade liberalization and investment liberalization is accelerating. All these provide suitable material environment and policy conditions for the flow of international capital, the expansion of international trade and international mass production, and promote the development of economic globalization. /view/9593.htm