Economic Globalization

What is Economic Globalization and what are its benefits.

Economic Globalization is the process of increasing economic integration between two or more countries, converting them to a one bigger market where the investors can invest their money and gain higher profits.

"Terry Flew puts forth that globalization is one of the widely used concepts in social theory today. According to Flew, globalization is defined as a "term used to both describe and make sense of a series of interrelated processes such as the rise of multinational corporations". It is also a widely used term in the areas of international production, trade and financial systems,and the increase in the multiculturalism of societies." *1

Of course the most apparent benefit is that we can have a larger market to sell our products and even buy them on a competitive price, in return bringing money to the country. Secondly providing a bigger product line for manufacturers so that they can produce something that is not needed in their own country but has demand in other. etc.

*1 Source: Wikipedia