Business Globalization and the Romanian Economy

Abstract

Economic globalization creates new challenges for the states of the world, because of the markets’ liberalization and rapid changes in the comparative advantages area. The new challenges brought macroeconomic stability, generated by the external openness of economies, and by financial liberalization and enhancement of market and product complexity. The paper points out the advantages of the globalization process and defines the risks concerning this process. We also underline the effects of the globalization process, through European integration, on the Romanian economy.