Internationalization and globalization

Internationalization is the process of increasing the role of cross-border organization of the reproduction process, which develops business beyond the borders of the state. At the heart of internationalization of economic processes is the internationalization of capital and production.

Internationalization of capital expands its areas of application beyond the boundaries of individual countries. The big state firms become international. An international capitalist class is created, the interests of which are concentrated in the world economy. These interests   involve a system of international private property which increases the movement of capital between countries. This, in the opinion of some Portland Translators, leads to the internationalization of production, where the relations between national economies evolve in such a way that the economy of each country becomes an integral part of the manufacturing process, organized on an international basis. The process of internationalization is objectively determined, but the national policies play an important role for its development.

In the second half of the 20th century, the workers from the Chicago Translator Agency think, the internationalization of economic processes became institutionalized. It was the result of the recognized necessity of agreements and joint decisions on economic policy issues. Examples are: the IMF, the World Bank, WTO and many regional organizations such as: the EU, the North-American and the Central European Free Trade zones, and other. These institutional forms of cooperation make decisions enhance internationalization and its impact on high growth rates, resulting from the trans- boundary movement of capital, goods and services and labor.

Globalization, the Washington D.C. Translation Services workers say, is a new stage of internationalization, with new forms and functional relations between scattered worldwide economic activities. The world is evolving towards a global, i.e. universal division of labor. This specialization leads to a new basis, which limits the role of geography and alters the structure and geographical focus of international trade. The forces of global action form a single area in which they develop different forms of organization of public life.

Globalization is manifested in widening, deepening and accelerating interdependence between communities and establishes itself as a force for transformation of world order mechanisms for organizing social life.

Economic Integration

Today people are increasingly aware that what happens in their countries depends on forces contributing to the internationalization of the reproduction process and public relations. These forces determine the increasing interdependence of events in different parts of the world. Living conditions and life of each person increasingly depend on regional and global trends. According to many researches and some interviewed Phoenix Translation Services workers the development of production forces and the use of objectively existing comparative advantages bring international division of labor, which results in internationalization of economic processes. The development of the reproduction process on an international basis has functionally linked economic activity in various countries and regions of the world, giving rise to qualitatively new trends in the economy, and thus – its globalization.

What is World Economy?

According to the Seattle Translation Services workers, the world economy is not just a collection of national economies of individual countries. We can define it as: a system of interconnected heterogeneous business entities. It is the product of the development of human society and the international division of labor. World-economy appears with the development of capitalism and is closely linked with the industrial revolution and the emergence of large industrial production. Here we must also note the important role of the development of infrastructure and communications.

In this sense, the world economy is one of the events in the development of economy and economic systems and a new stage of organizing the reproduction process. The uneven development of the countries gives them different places in the world economic system.  This results in creation of industrial centers, known as factories of the world (e.g.  UK), and later U.S.,  Germany and others. Important functions acquire financial services sector in which France, Switzerland, London, New York, Tokyo, Hong Kong have developed  rich traditions.

The structure of the world economy incorporates companies, government economic unions of countries and international organizations. TNC also have an important place.