ABSTRACT
Economic globalization is the increasing economic interdependence of national economies across the world through a rapid increase in cross-border movement of goods, service, technology, and capital. The recent era of globalization has been a rising tide that lifts all boats' but it is reaching the high water mark. The future of globalization could take two directions. First, there could be deeper integration and extended free markets brought about by continuing with a narrow focus on economic outcomes. Second, there could be a shift to a global economy with different characteristics through adopting the emerging policy framework of proximization where governments find they must shift focus towards sustainable policy and secure access to key resources. This chapter describes the changing macroeconomic parameters are covered in sufficient detail to support the detailed analysis of changing economic priorities. The continuation of business-as-usual is deeply engrained in world economic policy, so strategy has to be able to work within the current macroeconomic framework.
