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Economic globalization refers to 'the further internationalization of economic activity, in terms of greater interdependence and integration between economies and economic activity' (Thompson, 2000, p.92).
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Economic globalization refers to 'the further internationalization of economic activity, in terms of greater interdependence and integration between economies and economic activity' (Thompson, 2000, p.92). To what extent is the traditionalist interpretation of this description convincing? The aim of this essay is to discuss to what extent the traditionalist interpretation of the above statement, which refers to economic globalization, is convincing. This essay will begin by providing a brief outline of the traditionalist, globalist and tranformationalists perspectives on economic globalization. It will then proceed by focusing on the traditionalists argument and the evidence they provide to support their case. They use two key indicators, trade flows and capital investment to measure the extent of interdependence and integration in the national economy. It will be necessary to discuss how both globalists and transformationalists may interpret some of the evidence provided, in order to reach a conclusion of the traditionalist's interpretation of economic...
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