Reading Assignment 4: Economic Globalization---HAO JINGYU
What is the relationship between the economy and globalization? 1) To sum up: Deacon inherited Griffin's work to some extent. The economist Peter Deacon defined the cross-border extension of economic activity as economic globalization. Its scope and depth are largely driven by two mechanisms: first, the space to expand markets through trade. The internal structure of multinational enterprises is then changed through the expansion of foreign direct investment, followed by intra-group trade between enterprises in the same group (for example, global group heads and foreign subsidiaries). The method of industrial cluster upgrading should be sought from the global background. In the financial sector, economic globalization is reflected in the increased integration of international financial markets, namely, a significant increase in the level of cross-border investment, capital flows, foreign loans and joint ventures. Economic globalization thus manifests itself in increased capital fl...