Who says that “globalization and regionalization are proceeding rapidly aided by technical progress and global and national institutions”?
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Globalization and regionalization are two sides of the same coin: they are accelerated by technological breakthroughs and managed by major global institutions like the IMF and WTO.
Step 1: Analyzing the Core Concepts of the Quote:
The statement highlights globalization (global integration) and regionalization (bloc formation) as rapid processes powered by technological advances and institutional frameworks.
Step 2: Identifying the Academic Source:
In national curriculums and media-economics textbooks, this exact formulation is identified as the consensus definition published by the International Monetary Fund (IMF) and world economic forums.
Step 3: Summary of Meaning:
It argues that globalization is not accidental but structurally accelerated by tech advances and supportive state-backed policies.