Main Reasons of Economic Globalization

Since the early 1950s, economic globalization has been developing rapidly. Briefly speaking, its reasons mainly include the following ones. The first reason is the technical foundation of economic globalization. Advancements in science and technology have provided the material basis and the technical means for the rapid development of globalization. The second reason is the economic foundation of globalization. Firstly, the market economy has become the preferred choice of promoting economy for every country in the world. Secondly, multinationals which are expanding continuously have become the center of economic globalization. Lastly, international economic organizations have been the organic safeguards for the development of economic globalization. (104 words)