Economic Globalization
According to (Held and McGrew 1999: 2), the word Globalization means ¡§¡Ka widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual¡¨.
Globalization is everywhere. From the economic aspect, the meaning is even hard to define. The main idea about Globalization is about connection. The connection exists between people and also between countries. Economic Globalization has the meaning of enhancing the connection level between different capital, products, people and services.
Globalization introduces different types of effects on the economic system. The first one is about trading business. In the old days, the product is localize and is difficult to move from one place to another. Trading, although it is a traditional business, it is limited by location and capital flow in the old world. The growth in global (GDP) shows that the economic is growing in a tremendous amount. This is one of the signals to show the economic globalization. When we can take a look at our home, it is not a surprise to find the household applications which made in Japan. For the clothes, as a matter of course, nearly everyone can find one with the label showing that it is made in China or Malaysia. Suppose we want to buy a car, different types of model from all over the world are available. We have already adopted the idea of globalization in our daily life.
The next thing is about capital. Globalization introduces the cash flow between different places over the world. Nowadays, everyone is talking abo ...