RELATIONSHIP BETWEEN GLOBALIZATION OF WORLD ECONOMY AND INTEGRATION OF REGIONAL ECONOMY

The globalization of world economy and the integration of regional economy occur when productivity and socialization of production reach a certain degree,and reflect the trend of development of the world economy. The situation will give a great impetus to the economic development of the world,and help to raise the level of productivity and to develop the economy of the world. However, the globalization and regionalization of economy may lead to global economic imbalance, instability and crisis. The developing countries should be active and practical in developing their own economy.