Economic Globalization

What exactly is economic globalization? The definition of economic globalization is increasing economic integration and interdependence of national, regional and local economies across the world through movement of goods and services. In the book "Introduction to International and Global Studies" by Shawn Smallman and Kimberley Brown, many believe its where economic and political dominance by rich rule over smaller countries. Others like Paul Krugman and George Soros believe its a phenomenon intimately linked to trade among various nations and markets. In my opinion, economic globalization is an irreversible reality. To attempt to stall it or to roll it back would be as futile as trying to roll back the industrial revolution. In terms of the historic evolution of the social economic system and its broader social civilization, it is an inevitable phase in the ever advancing civilization on earth. In its current form, however, it is unsustainable. It is evidently defective, it has no built-in corrective mechanisms, and it needs to be saved from itself.The phenomenon has been in the making for centuries. More specifically, technological inventions in the field of communication, transportation and information management have accelerated its pace, propelling it into a tremendous force with incredible capacity to speed up development, or if left ungoverned, giving it a tremendous destructive capacity.