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Balkanization or Balkanisation is the process involving the fragmentation of an area, country, or region into multiple smaller and hostile units. [ 1 ] [ 2 ] It is usually caused by differences in ethnicity, culture, religion, and geopolitical interests.
A fragmented state has several noncontiguous pieces of territory. Archipelagos such as Philippines, Indonesia, and Fiji are examples of fragmented states. [1] A prorupted or protruded has an extension that protrudes from the main territory. [3] Thailand is an example of a prorupted state. [1] A perforated completely surrounds another state ...
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
Financial integration is believed to date back to the 1690s and was briefly interrupted at the start of the French Revolution (Neal, 1990 [4]).At the end of the 17th century, the world’s dominant commercial empire was the Dutch Republic with the most important financial center located in Amsterdam where Banking, foreign exchange trading, stock trading and bullion trading were situated.
Economies of scale is also a justification for economic integration, since some economies of scale may require a larger market than is possible within a particular country — for example, it would not be efficient for Liechtenstein to have its own car maker, if they would only sell to their local market. A lone car maker may be profitable ...
Armed conflict is the top risk in 2025, a World Economic Forum (WEF) survey released on Wednesday showed, a reminder of the deepening global fragmentation as government and business leaders attend ...
Final products may be sold to outside the region in which fragmentation happens: for example, East Asian countries often sell their final products to Europe and the USA. Producers in less developed countries operate in positions within a production chain which add less value to final product. Their challenge is to "climb upwards" on the ...
Others argue that it entails the degree of sensitivity of a country's economic behavior to policies and development of countries outside its border. [3] Global economic interdependence has grown in the post-World War II period as a result of technological progress (e.g. computerization, containerization, low-cost travel, low-cost communications ...