EIRP Proceedings, Vol 7 (2012)

Economic globalization - a phenomenon of global business integration

Radu Marcel Joia, Alina Mihaela Babonea


Tumultuous economic life led scientists to seek explanations to the negative economic events, events that take many forms, and to whom it is a must to find a solution or even a mitigating factor. The foundation of the economy has undergone many changes. The recent events manifested in the world economy show that the underlying fundamentals of this science must be revised because they proved to be wrong.

It notes several times, mainly due to present economic crisis, that currently the economics have no theoretical and practical means and no tools of analysis and intervention in the economy, proving that the existing ones are exceeded and insufficient, so that the creation of an unifying principle and of some generalizing concepts that could systematize and forecast the current economic phenomena in the microeconomics and macroeconomics, especially in the transnational companies field, those which are the base of the foreign direct investment flows, should become the main objective of the new economic science.

Through this paper, we tried to illustrate the important aspects of economic globalization, the challenges that this phenomenon poses to economies and the way in which an economy can become globally competitive, under massive constraints of the global competition, how a national company can become globally integrated, study based on representative references.ee


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