Globalization Versus Regionalization

The current trend of the world development economy entails the thorough analysis of the relation between globalization and regionalization. Although some economic analysts consider regionalization as a reaction to globalization of the certain countries, we notice that on microeconomic level this has a significant contribution to the development and scope of the globalization process. The modern society development largely supported the globalization phenomenon. As globalization is characterized by the up-going tendency to reduce and eliminate the gaps between the national economies as well as by the enhanced connections among these economies, it actually represents the fundamental trade of the current world economy. However, the world economy has a complex evolution being even contradictory in certain situations as the sometimes eventual fragmentations may come up although the interdependency of national economies increases. This work aims at approaching both the globalization and regionalization concepts and their influences over the international economic relations.