THE NATURE OF GLOBALIZATION
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Authors:
• Amos Avny, email: unknown, Afiliation: OMNIDEV International, Israel -
Keywords: Globalization, Service Sector, Foreing Trade, East Europe's countries
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Abstract:
Following the technological advancement and the democratization process the Globalization is one of the most affecting powers in world economy at present. The Globalization combines several process: a global reallocation of industries, a massive expansion of world trade, a rapid growth of merging and acquisitions trends, a significant moves of capital from one country to another, an increased power of global and regional trade organizations and a growth of lifestyles and consumption patterns similarity. The author measures the Globalization effect in Europe by exploring two variables: Employment in the Service Sector and involvement in world trade-increase of exports and imports. Countries with high percentage (75-80) of employment in the service sector and a fast growth of foreign trade fit best for the demanding conditions of Globalization. The 12 new EU members should adopt this strategy in order to accelerate their economic
growth.