1. IntroductionThe current global economy, integrated and interdependent, is the result of the process of globalization. Various definitions of globalization are available. According to Block (2004), in his research paper, globalization is defined as "the intensification of global social relations that connect distant localities in such a way that local events are shaped by distant events and, in turn, the distant events are shaped by distant events. local events. The IMF (2008) states that globalization is the result of technological progress and the modernization of populations. It is the result of the increasing integration of economies around the world, primarily through the movement of labor, technology, knowledge, services, goods and investments across borders international. Globalization also has a direct effect on the social, environmental and political aspects of the economy (ibid.). Technological progress is the main driver of globalization. Technological advancements, particularly the growth of Internet and telecommunications infrastructure, have made it easier to establish a simple method of communicating, conducting business on a global scale, and creating global markets. Moreover, the interconnections of economies will increase both opportunities for businesses and competition between them. Zhu (2009) argues that globalization has two different parts, namely market globalization and production globalization. Market globalization involves merging traditionally distinct and separate national markets into one huge global market. Here, markets physically separated by national borders will be conceptually merged using technologies and policies, and then operate globally (Zhu, 2009). Ex. Co...... middle of paper ...... following the globalization strategy. Nations will need to consider not only economic benefits, but also environmental and cultural aspects when supporting globalization. References Aspray, W., Mayadas, F. and Vardi, MY, Eds., (2006), “Globalization and Offshoring of Software: Report of the ACM Task Force on Job Migration, ACM, 2006; http://www.acm.org/globalizationreport/overview.pdfBlock, D. (2004), “Globalization and language teaching”, ELT Journal, Volume 58, January 2004, Oxford University Press, eltj.oxfordjournals.org/cgi /reprint/58/1/75.pdfInternational Monetary Fund (IMF), 2008, “International Monetary Fund: Summary”, IMF Publications, available at: www.imf.orgZhu, Y. (2009), International Business Strategy, 2e edition, Middlesex University Business School, McGraw Hill Publications, ISBN: 9780077127015, pp. 3:36