Global Economies

Paper Summary:

This paper discusses globalization and its primary drivers in the form of transportation systems, telecommunications, and technology in the form of the Internet, computers, networks, and applications as well as other characteristics. These technologically related innovations are responsible for the spread and depth of penetration of the global economic model within the contemporary environment. The paper also examines globalization in relation to the vending services industry. Finally, some major trading blocs are listed with the Central American Free Trade Agreement and the North American Free Trade Agreement (NAFTA) being most relevant for illustrative purposes related to regional trading structures.

From the Paper:

"Globalization is the economic catchphrase of the 21st century and has captured the imagination of populations across the globe. People use it to explain many things but when asked to define it, the term often defies explanation. One source defines globalization as the integration of the world's culture, economy, and infrastructure driven by the lowering of political barriers to transnational trade and investment, and by the rapid proliferation of communication and information technologies. The term is often used in reference to the substantial impact of free-market forces on local, regional and national economies (Globalization, 2005, para.1)."

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