Globalization is an important factor in modern international economic relations

The subject of the study is the peculiarities of globalization of the world economy as an important factor of modern economic relations, which determines the development of the world economy. The purpose of the study is to study the theoretical basis of the process of globalization. Research methods. The work uses the dialectical method of scientific knowledge, the method of analysis and synthesis, the comparative method, the method of data generalization. Results of work. The paper highlights three dimensions of the definition of the phenomenon of globalization in terms of the science of international relations; defined three stages of globalization of world production. Globalization at the level of a separate company, the specific features of globalization and the globalization of an individual country are considered. Conclusions. Globalization provides a complex effect, combining factors such as: foreign capital, new technologies, integration opportunities and access to world markets in order to accelerate economic growth