Global economic integration

Definition

Global economic integration refers to the process of increasing interconnectedness and interdependence among countries in terms of trade, finance, investment, and technology. It involves the removal or reduction of barriers to international trade and the promotion of globalization.

Related terms

Economic globalization: Economic globalization refers specifically to the increasing integration and interdependence of national economies through cross-border flows of goods, services, capital, and technology.

Trade liberalization: Trade liberalization is the process of reducing or eliminating barriers such as tariffs and quotas on international trade in order to promote free trade.

Foreign direct investment (FDI): FDI occurs when a company or individual invests directly in another country by establishing operations or acquiring assets there.