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Global

Globalization refers to the increasing interdependence of countries through the rising cross-border flow of goods, services, technology, and information. It describes how trade between nations has become more integrated on a global scale. Globalization can raise living standards in poorer countries through job opportunities and access to goods, though it may also destroy jobs in wealthier nations as production moves abroad. Its impact remains mixed, benefiting large Western corporations most while its effects are varied for workers, cultures, and small businesses worldwide.

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39 views1 page

Global

Globalization refers to the increasing interdependence of countries through the rising cross-border flow of goods, services, technology, and information. It describes how trade between nations has become more integrated on a global scale. Globalization can raise living standards in poorer countries through job opportunities and access to goods, though it may also destroy jobs in wealthier nations as production moves abroad. Its impact remains mixed, benefiting large Western corporations most while its effects are varied for workers, cultures, and small businesses worldwide.

Uploaded by

Somaya Basare
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as ODT, PDF, TXT or read online on Scribd
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What Is Globalization?

Globalization is the spread of products, technology, information, and jobs across national borders and
cultures. In economic terms, it describes an interdependence of nations around the globe fostered
through free trade.

On the upside, it can raise the standard of living in poor and less developed countries by providing job
opportunity, modernization, and improved access to goods and services. On the downside, it can
destroy job opportunities in more developed and high-wage countries as the production of goods moves
across borders.

Globalization motives are idealistic, as well as opportunistic, but the development of a global free
market has benefited large corporations based in the Western world. Its impact remains mixed for
workers, cultures, and small businesses around the globe, in both developed and emerging nations.

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