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We live in a world characterized by the desire for economic growth and improved living standards, by often irrational government measures, by the struggle for the re-distribution of the spheres of influence and, last but not least, by the increasing frequency and impact of economic crises. The globalization of economy has inevitably led to the globalization of crises, a phenomenon that is generating both interest and concern. The aim of this paper has been to highlight the complex issues faced by mankind, issues which create the premises for the worsening of the crises in the medium- and long-term.

In the context of the market economy, foreign direct investments make an important contribution to economic growth. For Romania, foreign direct investments had a crucial importance both during the transition period and in the period following the achievement of the functional market economy status. Although the foreign direct investment (FDI) stocks represent an important share of Romania's GDP, in the competition with the other former socialist countries which have joined the European Union, our country is situated below the level recorded by this indicator in all the 11 states analyzed. Given the positive effects generated by the FDI stocks, Romania still needs the contribution of foreign investors in order to evolve. The aim pursued in elaborating this paper was to highlight the positive impact of the flow of foreign direct investments on the economic growth in Romania and implicitly to emphasize the role that foreign investors can continue to play in the economic development of our country.

Due to their geographical position, the EU, the United States/US and China benefit from the fact that they have had the opportunity to structure their own economic influence areas, including from the perspective of securing raw materials and energy sources. Furthermore, there are broad relations, including trade relations between the EU, the US and China, a process determined by the increasing globalization of the world/global economy. The purpose of this paper was to highlight the role that the EU, the US and China play within the global economy. The complex challenges faced by the world today call for the active involvement of the three great powers in solving the problems that have arisen. The EU, the US and China must take into account their own interests, as well as the interests of the other countries, and they must have the ability to look to the future responsibly and generously.

Over the last decades, the countries around the world have experienced a greater number of crises compared to the period between World War II and the 1980s. Notwithstanding all the suffering it causes, a crisis can also be seen as a necessary evil, since it leads to implementing the measures needed to regulate the economy. Through the adopted approach we have tried to highlight the fact that in Romania there was a certain similarity in terms of the evolution of the economic indicators and the behavior of the decision makers in relation to the global financial crisis, respectively to the crisis generated by the current pandemic. The objective of this paper is to emphasize the need for the Romanian decision makers to show more anticipation and accuracy in implementing the measures needed to be taken both in the period preceding the onset of the crisis and during its actual manifestation.

The balance of trade is an indicator that reflects to a representative extent the economic development of a country over a certain period of time. The trade balance deficits in certain product categories for which there is production potential, the perpetuation of the trade balance deficit over the last 30 years and the unfavourable internal and external situation are all concerns for the Romanian government and its citizens. The situation is all the more difficult if we consider that of the eleven former socialist countries that joined the EU, Romania is the only one that has consistently recorded deficits in the annual trade balance of goods and services in the period following the fall of communism. Within this initiative, the goal has been highlighting the negative state characterizing Romania's external trade through its trade balance deficit and the necessity of undertaking adequate measures in this area.

Asia’s progress over the last 3-4 decades is remarkable, with the continent enjoying the highest growth rates in many respects. This progress was facilitated successively by Japan, the four Asian tigers, China, India and others. Among the above-mentioned countries, one must emphasize the crucial contribution of China, during the recent period, to the economic development of the Asian continent in its entirety. China has recorded the highest rhythm of GDP growth, it has become the world’s largest exporter, it has the largest currency reserve, and so on. In fact, in analyzing GDP’s evolution and Asia’s involvement in the global economy, we used worldwide statistical information, continental statistical information and statistical information that targeted China as a major beneficiary of globalization. The objective of this paper is the attempt to highlight two periods of economic development in Asian history. It is worth mentioning the nostalgia of the Asians for the silk road period, but especially their pride in the remarkable evolution of Asia during the present period, characterized by an unprecedented process of liberalization of the world economy.

The world’s population becoming double in the last 50-60 years, the increased differences in the levels of development recorded by different areas of the planet, and the accentuating free movement of people, make migration an implacable phenomenon in the contemporary era. Decision makers in rich countries need to realize that immigrants are more than just pawns on a chessboard. In this paper, we have tried to tackle a number of important aspects of the phenomenon of globalization, such as: the migration causes, the beneficial and less beneficial effects of the international movement of people, the characteristics of migration in the EU and the difficult situation of Romania as a result of the emigration of an impressive number of citizens. Praised by some people and criticized by others, stimulated by some and blocked by others, international labor migration has become an everyday phenomenon nowadays. The aim of this paper is to emphasize the implacable nature of international labor migration and to highlight the dimensions and implications of this phenomenon in the EU and, implicitly, in Romania.

Criticized by some, praised by others foreign direct investments are a financial flow with amajor impact on the economies of many countries. In an increasingly globalized world, the processthrough which multinationals open production and distribution branches over the entire surface ofthe globe is something as natural as possible. After the fall of communism in Europe, Romania has been a favorite destination for manyforeign investors, fact which requires a careful analysis on the dynamics and structure of foreigndirect investment flows attracted by Romania. I have also tried to highlight the nature of the linkbetween the flow of foreign direct investment attracted by Romania and the variations recorded inthe economic development of our country. Given all the positive and negative aspects presented, foreign direct investments are a realityfor Romania, and future policies promoted in the area should stimulate the entry foreign capitalfirms whose work will generate a high level of content of knowledge and technology directlyimpacting the improvement of the economic efficiency at national level.

In an increasingly globalized world, any crisis, including the ones caused by the foreign debtdefault of a country, may have a negative impact which can be contagious both at regional and atglobal level. Taking into account all the risks to which international creditors were subjectedover time, thestock of foreign debt worldwide has experienced a significant increase in the current millennium,actually demonstrating that international lending is profitable. The causes of default, the measures taken by the concerned countries to get out of this situationand the specific examples were the elements which I have tried to capture in this paper. Last butnot least, I have performed an analysis of the evolution of the foreign debt stock and the repaymentcapacity of small and medium-income countries, respectively the most vulnerable countries interms of debt repayment.

The amplification of extern economic activities made by firms demands new rules for those people that take part in transcultural actions. They have to deal with new challenges regarding the interpretation of actions or attitudes made by individuals or firms that have their activity in a cultural activity different from what they were accustomed to until that moment. International managers come in contact with people that not only have different objectives, but they also have different ways of achieving their objectives. The development of management activities is a laborious process that starts with the recurring and selecting of personnel and ends with the training and returning to their home country of the managers. The importance and the phases of the process of training managers that can action with competence in an intercultural context have represented the elements which I want to bring forward in this paper.

The intensification of the globalization of the world economy is the result of the amplification and diversification without precedent of the material, financial and human flows between the world’s states. The international commerce has known in the last period o strong expansion, almost uninterrupted, surpassing the industrial production growth and PIB on a world scale. Among the PIB evolution and the evolution of the world commerce there is a strong relationship of correlation, fact shown by the linear correlation coefficient. The structure on exports of country categories confirms the fact that the process of globalization has been fully completed in the world. Romania, through its achieved economic opening, has boosted its participation to the international economic trades. In this way there is a chance for Romania’s economy in the future to become more competitive, even though in the present our country faces serious problems concerning the strong deficit of the foreign trade balance.

Inequality is unfortunately a phenomenon of great relevance for the contemporary period. The increasing differences between the incomes of various social classes have prompted the multiplication of manifestations of individualism, selfishness, etc., thus jeopardizing social stability. The eternal dispute between the liberalism imposed by markets and the need for state intervention to a certain extent in the economy must bring to the fore - together with economic growth - the interests of all the citizens of a country. The accentuation of economic and social inequality over the last decades, the causes that led to this phenomenon and the context where such an evolution of inequality took place represent the main issues addressed in this paper. I wanted to join those who try to draw the attention to the issue of increasing economic and social inequalities among the members of society, in order to raise the awareness of the decisionmaking factors on the chronicization of a phenomenon that could harm everyone on a long-term, including the wealthy citizens of the planet. [ABSTRACT FROM AUTHOR]

Globalization is a highly complex phenomenon, the effects of which are difficult to predict and even quantify. Despite all the economic and social progress it has generated, it also raises a number of concerns. The economic growth generated by the liberalization of the markets has not limited the excesses materialized in tax evasion, cross-border economic criminality, etc. Deregulation and excessive liberalization of the markets led to the global financial crisis at the end of the past decade. This crisis must not transform the markets into a genuine scapegoat, but trust in their flawless functioning must be reconsidered, as well as in their capacity to maximize the profit under any circumstances. In the context of the diminishing role of the different countries' borders, there is an increasing dependence of the economies of different countries on the world economy. The effect of this state of affairs is reflected in the vulnerability of the states in relation to the disturbances in the global economy and the amplification of the intensity of global crises. The main issues addressed in this paper are focused on the economic growth achieved over the last decades globally, the distribution of economic growth by category of countries, the effects it has had on the population, as well as the intensification of the frequency and impact of the crisis on the economy. The aim of this scientific approach was to highlight the problems faced by the world in the current globalization period, highlighting the need to find solutions that would help moralize the globalization phenomenon; thus, ordinary citizens would no longer be dominated by the fear of losing their jobs, by the fear of a hindered access to medical or education services. [ABSTRACT FROM AUTHOR]

We can say that the European Union can be considered, as a whole, a regionally integrated institution in which the relations between states can be considered to a large extent an example of globalization. The attitude manifested in the framework of the World Trade Organization and in the process of bilateral cooperation once again demonstrates the European Union's attachment to the values imposed by the phenomenon of globalization. All these lead to an increase in the dependency and implicitly to the vulnerability both among the EU states and in the relations they develop with countries outside the European Union. At the same time, the complex mechanism of functioning developed at the level of the European Union, the exaggerated claims of some countries like Hungary, the reckless economic behavior of some countries like Greece determine the amplification of the effects in the event of a crisis. If to all these we add the protectionist measures that the new president of the United States wishes to implement, as well as some deterioration in the European Union credibility generated by Brexit, the bureaucratic aspects that characterize the European institutions, etc., we can outline the context of the European Union, which requires a series of measures to ensure the progress of the European Union as a whole and, in particular, the effective integration of each Community country. [ABSTRACT FROM AUTHOR]

In most cases there is a direct link between the economic development and the foreign trade of a country. Over time, Romania has not been an exception to this rule. Engaged in the capitalist mechanism both in the interwar period and in the period elapsed since 1990, Romania has been held between the interests of foreign capitalism and the decisions of a political class that did not always rise to the level of the times when it exercised its power. On top of these, a series of negative impact events such as wars or crises have overlapped. Despite all the investment efforts made, the impact of Romania's economic development on foreign trade was limited during the socialist era. As regards the volume of foreign trade, the trade balance, the structure of exports and imports, the value of exports per capita, Romania's evolution was generally modest. Practically, with some exceptions, Romania's involvement in international trade was below the economic potential of our country throughout the analyzed period. [ABSTRACT FROM AUTHOR]

The commercial policy that has decisively influenced international trade at different times has been outlined by both objective needs, such as the interest in global economic development, and subjective desires determined by the particular interests of different state groupings, primarily of developed countries. The attempt to impose a set of international trade rules to be respected by world states represents progress in this area. Further issues are related to how the agreed rules apply so that the benefits of international trade are placed in an equitable area. The global financial crisis, the Brexit, Trump's attitude as candidate and especially as US President are disturbing factors in the trade relationships between states. [ABSTRACT FROM AUTHOR]

Regardless of the pro and against globalization opinions, the reality demonstrates the fact that the new world economy is based on the globalization process. In the international economic arena, apart from sovereign states there are new important players coming into action, such as multinational companies. We must also not neglect international institutions which have left their mark on the international arena. In the current context, multinational companies, hold a force unthought of half a century ago and represent both the main entities generating value and the main beneficiaries of the redistribution of added value, mainly through speculative actions. In the current paper I have attempted to present the different spectrum of roles which multinational companies play in the process of globalization. [ABSTRACT FROM AUTHOR]

The experience of the last few years during which we have witnessed an emphasis of the globalization phenomenon has demonstrated that the countries which have strongly connected to the global economy have had significantly higher growth rates than the countries which have opted for autarchic growth. Through the substantial imports and exports which have been realized by China, through the attracted foreign direct investments, etc, China has become a first ranked player in the global economy. All the aspects which have determined this evolution and the way in which the Chinese government is responding to the current global challenges were captured in this paper. [ABSTRACT FROM AUTHOR]

The problem of world poverty is always of importance. In the last 20-30 years ideologies that glorified globalization appreciated that from the accentuation of globalization all the countries in the worldwould benefit as much as possible, and in each country as many citizens as possible would benefit. We now realize that poverty reduction not only did not occur at the anticipated level, but also, in some aspects, the problems facing the poor have widened. The differences between the rich and the poor have widened on a global level and Africa, which has been the primary supplier of raw materials for developed countries, currently occupies first place in the world regarding the share of the poor in the total population. The evolution of poverty, its causes and its impact on the population are the main issues that I have tried to capture in this paper. [ABSTRACT FROM AUTHOR]

The impact that the energetic sector has had and still has on human society is of a maximum importance. The population increase on a global scale, the improvement in living standards, global warming etc. have determined not only the reduction in energetic resources but also the increase in the renewable energy utilization. The EU, which is the biggest energetic importer in the world and implicitly Romania as a member state, has seen itself being in the situation of facing the energetic sector's challenges. I have tried to capture the measures taken by the EU and Romania regarding energy policy in this paper. [ABSTRACT FROM AUTHOR]

The events of December 1989 represented the trigger which determined the future evolution of Romania from an economic and political point of view. Among the first reform measures, adopted after the fall of communism, were also those regarding Romania's commercial policy. Being aware of the global economy's globalization trend, Romania liberalized its external trade, fact appreciated by the EU. Actually, Romania's main objective at that time was joining the EU. In this paper I have tried to present aspects regarding the evolution of Romania's exports and imports in two time intervals. The first interval refers to the pre-adherence period, being marked by the country's mistakes during the transition towards a market economy and the second interval refers to the post-adherence period, marked by the rules imposed by the EU and the effects of the global financial crisis. [ABSTRACT FROM AUTHOR]

Considered by some as a factor of progress and by others as the origin of many insufficiencies, globalization is an unstoppable phenomenon of the current times. It would be counteractive from the part of many countries, not to try, under these circumstances, to use the opportunities brought by the process of globalization to their own advantage. Through the economic openness which was assumed by Romania, the country has integrated itself more and more in the world economy. The indexes upon which this openness was based have been emphasized both in their dynamic but also in comparison with other countries in this study, without excluding the vulnerabilities which threaten our countries in a more and more globalized world. [ABSTRACT FROM AUTHOR]