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This is a study of globalization. It begins by explaining the concept as a “ process”. That makes political and business and decision in one country have consequences in far away places in the world. The study focuses on globalization in business and economics, pointing to the integration and interdependence taking place among nations as evidenced by the rapid growth in trade and investment worldwide. The study attributes the speed of globalization to seven factors: trade liberalization, economic integration schemes, transnational corporations, domestic economic liberalizations, technological developments, privatization and ideological changes. These are interdependent factors stemming from capitalist philosophy. As far the future is concerned, the study discusses the counter-forces and concludes that these will slow the process but not reverse or stop it. The study points to the weak participation of Middle Eastern countries in this process.