EIRP Proceedings, Vol 5 (2010)

Abstract

We believe that globalization and its socio-economic implications of the world and world economic crisis is one of the most debated issues from several years. The publication "The Economist’’ named globalization as the most used word of the century. The most relevant dimension of globalization is the economy with the more dynamic factors: technological development, the hegemony of liberal conceptions (closely linked to the triumph of the ideology of market economy) and explosive development of countries or regions. Economic globalization has manifested a series of visible effects such as: the emergence of new markets and foreign trade (interconnected at global level), the appearance of: transnational companies, multilateral agreements on trade, broadening the scope of WTO, transformation of multinational companies in transnational companies and the emergence of global economic markets. Regionally, we noticed that the trend of concentration of economic activity, is more pronounced and advanced in the European continent. Expanding globalization in Europe was achieved because of the fall of communism, and the neoliberal reformation which took place in Western European countries. Events like the fall of the Berlin Wall, followed by the fall of communism eradicated many political, economic, religious or cultural barriers. Were born new relation between state and market, between public and private. European Union is, in our view, a regional office of globalization, representing the best performing integrative system in the world (by creating free trade area, customs union, common market, the Economic and Monetary Union). In terms of the European Commission, European model, is a third way towards globalization, a middle path between protectionism and uncontrolled economy. To understand why the EU is an advanced approximation of globalization, perhaps a regional model of globalization, we must first understand the link between globalization and regional integration. Regional integration can be considered a preparatory step toward a global system, showing the need to solve the problem of sovereignty disposals as a member attribute manager.