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Globalization - Essay

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.

KEY TAKEAWAYS

Globalization is the spread of products, technology, information, and jobs across nations.

Corporations in developed nations can gain a competitive edge through globalization.

Developing countries also benefit through globalization as they tend to be more cost-effective and therefore attract jobs.

The benefits of globalization have been questioned as the positive effects are not necessarily distributed equally.

One clear result of ...

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legal phenomenon.

Socially, it leads to greater interaction among various populations.

Culturally, globalization represents the exchange of ideas, values, and artistic expression among cultures.

Globalization also represents a trend toward the development of a single world culture.

Politically, globalization has shifted attention to intergovernmental organizations like the United Nations (UN) and the World Trade Organization (WTO).

Legally, globalization has altered how international law is created and enforced.

On one hand, globalization has created new jobs and economic growth through the cross-border flow of goods, capital, and labor. On the other hand, this growth and job creation are not distributed evenly across industries or countries.

Specific industries in certain countries, such as textile manufacturing in the U.S. or corn farming in Mexico, have suffered severe disruption or outright collapse as a result of increased international ...

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Globalization. (2020, December 10). Retrieved April 24, 2024, from http://www.essayworld.com/essays/Globalization/107563

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"Globalization." Essayworld.com. December 10, 2020. Accessed April 24, 2024. http://www.essayworld.com/essays/Globalization/107563.

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PAPER DETAILS

Added: 12/10/2020 07:56:45 AM
Submitted By: anil
Category: Economics
Type: Free Paper
Words: 325
Pages: 2

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