What impact does economic globalization have on world economic development?

The influence of economic globalization on world economic development is a state that makes countries gradually approach.

The development path of economic globalization is tortuous, unbalanced and spiraling. Temporary retrogression and stagnation are possible. When the process of economic globalization cannot meet the needs of countries seeking a broader market, regional economic integration becomes a supplement.

On the other hand, the objective trend of economic globalization is difficult for every nation-state to grasp, and it will have such and such effects on the economic development of all countries: positive or negative. When the positive effect of a country in the process of economic globalization is less than the negative effect, the country will take a boycott or negative attitude towards economic globalization and seek regional economic integration instead.

However, most regional economic integration is a collective protection policy of opening to the outside world, which has a negative impact on the development of economic globalization. However, it is precisely because of the difficult progress of economic globalization that without regional economic integration, it will be impossible for many countries to enter the world market and improve the level of opening up.

Extended data:

The Formation and Development of Economic Globalization

Fundamentally speaking, it stems from the fact that socialized mass production transcends national boundaries. Faced with huge productivity, all economic parties need to seek the international market in both demand and supply. Optimizing the allocation of resources on a global scale is not only the objective need of economic development, but also the need of survival and development from multinational companies to small and medium-sized enterprises.

On this basis, countries gradually have an understanding of promoting the free flow of goods, services and capital; The multilateral trading system has developed from GATT to WTO, and countries are improving their policies in the direction of reducing trade and investment barriers. All these have promoted the trend of economic globalization. While the trend of economic globalization is developing, regional economic integration is also forming and developing.

Baidu Encyclopedia-Economic Globalization and World Economic Development Trend