Globalization and defence industry in East Asia
Globalization has become a piece of fashionable jargon in the post-Cold War era. In the economic sense, it indicates a global flow of capital, investment, production, technology and manpower in the form of international trade, and various types of collaboration through which national economies are integrated with the international economy. However, globalization is not a new phenomenon. It has existed for as long as there has been division of labour, comparative advantage and international trade. In this sense, globalization is a continuing process, and every nation’s economy is integrated with the international economy to different degrees and in various modes.