Abstrat

Since the mid-nineteenth century, the world has experienced a major economic disruption resulting from the two waves of industrialization in Europe and the progression of the world's economic market which has favored by the process of globalization. The gradual development of world economies, driven in turn by the United Kingdom, the United States and several other states, has generated more than 150 years of economic growth, interrupted by downturns and crises.

A Globalized Utopia or the Creation of the Weakest Link

Introduction

The globalization of the economy is characterized by the transnationalization of economic activity, a phenomenon that is the location of different stages of production and marketing of goods and services in different political jurisdictions to use a term that encompasses more than the states national - although these are by far the most political jurisdictions. Globalization represents a challenge to nation states but it is inconceivable without their innate ability to negotiate and thus inserted into international flows of goods and services. Those political jurisdictions that are not nation states are passive entities in this process. The reason for this is that globalization offers great opportunities to achieve a truly globalized advance development erratically.

Some countries are integrating into the global economy more quickly than others. In those who have integrated, growth is stronger and reduces poverty. Under the influence of outward-oriented policies, the countries of East Asia, who were among the poorest in the world 40 years ago, are mostly made dynamic and prosperous. As living standards rose in these countries, they were able to open up to democracy and economic, progress in areas such as environment and working conditions.

This paper focuses on the correlation between U.S Unemployment, U.S Imports, and Euro Area GDP levels. Furthermore, the discussion will attempt to analyze that because of globalization, world economies are so intertwined, that one country unemployment levels directly impact another countries GDP. Countries with export economies, where trade makes a big portion of aggregate GDP, are especially vulnerable to trading partners' economic wellbeing, and unemployment levels. To explain this phenomenon, we must first define globalization, and the evolution of globalization throughout history.

Discussion

Globalization

Globalization is a historical process which is the result of human innovation and technological progress. She spoke about the increasing integration of economies worldwide, particularly through trade flows and financial flows. The term sometimes also refers to international transfers of labor or knowledge (technological or labor migration). Finally, globalization has its cultural, political and environmental larger that are not addressed in this study.

Basically, globalization is nothing mysterious. The term is commonly used since the 80s, that is to say, since technical progress allows for easier and faster international operations (commercial or financial). It refers to an extension beyond the borders of the countries of market forces that have operated for centuries at all levels of economic activity (village markets, urban industries or financial centers).

Markets promote efficiency through competition and the division of labor (specialization allows workers and economies to focus on what they do best). With the globalization ...