Economic globalization refers to the increasing interdependence of world
economies as a result of the growing scale of cross-border trade of commodities and
services, flow of international capital and wide and rapid spread of technologies. It reflects
the continuing expansion and mutual integration of market frontiers, and is an irreversible
trend for the economic development in the whole world at the turn of the millennium. The
rapid growing significance of information in all types of productive activities and
marketization are the two major driving forces for economic globalization