Impact of globalization in economic development

Abstract

The economic world is moving towards the situation where economies are merged into an interdependent global 
economic system, this phenomenon is named globalization. 
Globalization should not look only from the economic aspect. This process is political, technological and cultural 
as much as it is economic. 
Therefore, it is to say that globalization is an heap of interconnected processes, and nohow a single process. 
Openness to international trade has helped many countries grow much faster than could be developed in other 
conditions. International trade helps economic development, when a country's exports give boost economic 
growth. 
Globalization has eased the sense of isolation that has felt the majority of the developing world. At the same 
time, to many people in developing countries has created opportunities to establish business links outside the 
state and develop new social relationships in large distances. 
All these connections were made possible thanks to new information technology, transport and free 
telecommunications. 
Society, members of which we are, is increasingly becoming global, so global in terms of communication and 
consumer of goods that are created by people. Recently, about globalization are written books and articles, 
organized various research projects, guided scientific and unscientific analysis.