Globalization and Middle East: The economic dimension

Abstract

In the last part of the 20th century and in the beginning of the 21st century, a popularized and equally controversial phenomenon has marked, and has had a great impact on societies, that is named globalization, which has occupied discussions related to the current world economy, world politics, local problems and responses. Globalization has increased contact among the peoples of the world, a rapid expansion of interdependence among nations; and we have witnessed an explosion of new actors in international affairs. There are many definitions, opinions and dimensions of globalization. Yet, for the purpose of this study, the paper will try to analyze the economic domain rather than political and cultural dimensions of this popular phenomenon with particular reference to Middle Eastern countries. Economic and financial globalization and the expansion of world trade have brought substantial benefits but also inequalities to countries around the world. In the framework of this argument, the paper analyzes the concept of globalization and processes of globalization particularly focusing them from economic perspective. It then concerns with the effects of the economic globalization in Middle East region, and argues the main impediments for greater integration into global economy.