Globalization has significantly transformed the structure and functioning of the contemporary global economy by integrating markets, production systems, and financial networks across national borders. Among the major drivers of this transformation are multinational corporations (MNCs), international financial institutions (IFIs), and global trade agreements. These institutions and frameworks have contributed to economic growth, technological advancement, and international cooperation. However, they have also generated criticism due to concerns related to inequality, economic dependency, and loss of policy autonomy for developing nations. Multinational corporations play a dominant role in shaping the global economy by expanding production and investment beyond national boundaries. MNCs facilitate global integration by transferring technology, managerial expertise, and capital to host countries. In developing economies, foreign direct investment from MNCs often leads to job creation, infrastructure development, and industrial growth. These corporations operate through global supply chains, enabling efficient production processes by sourcing raw materials and labor from multiple countries. The spread of manufacturing and service industries across regions has increased productivity and consumer access to diverse products at competitive prices. However, the influence of MNCs is not without challenges. Critics argue that MNCs often exploit cheaper labor markets in developing countries, leading to concerns regarding labor rights and working conditions. Additionally, profit repatriation by foreign corporations can limit domestic capital accumulation. MNCs may also exert significant political and economic influence on host governments, sometimes pressuring them to adopt favorable regulatory and tax policies. This can weaken the ability of national governments to regulate foreign investment according to domestic development priorities. Furthermore, the dominance of large multinational corporations can suppress local industries, making it difficult for small and medium enterprises to compete in the global marketplace. International financial institutions have also played a major role in shaping globalization by providing financial assistance, development loans, and policy guidance to countries facing economic challenges. These institutions promote global financial stability and help developing economies manage balance of payment crises, debt burdens, and economic restructuring. Through lending programs, they support infrastructure projects, poverty reduction programs, and economic reforms. Their role became particularly significant during financial crises when many countries required external financial support to stabilize their economies. Despite their contributions, international financial institutions have faced criticism for imposing structural adjustment programs on borrowing countries. Such programs often require governments to implement austerity measures, reduce public spending, privatize state-owned enterprises, and liberalize trade policies. While these reforms