Economic globalization has been progressing rapidly since the beginning of the 1950s. Several factors have contributed to such development. Firstly, advancements in science and technology have offered a technical foundation by providing the material basis and the technical means. Meanwhile, a solid economic foundation for such a globalization has been laid by the market economy which is prevailing over the world. Others factors include the pillaring and propelling role of multinationals in micro-economic operations, the ever growing coordinating and controlling power and function exercised by such international economic organizations as WTO, IMF and WB in the international trade and finance。(100 words)