Global economy is defined as the interconnection of the economies of politically independent countries in trade, transfers of capitol, labor, production, and distribution. The global economy has emerged, for the most part, in the last fifty years since World War II. Undoubtedly, the global economy is here to stay; several factors have contributed to this. Less than fifteen years ago, no one had heard of www.whatever.net. Most people now know that "www" stands for World Wide Web. This descriptive term itself indicates how globalization has affected all aspects of our economy. …
