What is Globalization? Globalization refers to the shift toward a more integrated and interdependent World economy. Globalization has two main components: the globalization Of markets and the globalization of production. (Pg.6 chapter 1). List the major drivers of globalization. Give three examples of each. Two macro factors seem to underlie the trend toward greater globalization. The first is the decline in barriers to the free flow of goods, services, and capital that has occurred since the …
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…that participate in the import and export business benefit a great deal and employ thousands of people annually. Although globalization may hurt hundreds when looking at the overall picture it helps thousands. What are some major regional trading blocs? Some well known trading blocs include the EU (European Union), NAFTA (North American Free Trade Agreement), MERCOSUR (Mercado Comun del Cono Sur, also known as Southern Common Markets (SCCM), and ASEAN (Association of Southeast Asian Nations).