Question

explain Economic Globalization & International trade?

Answer 1

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The Flows of GLOBALIZATION. In a global economy, no nation is self-sufficient. Each is involved at different levels in trade  to sell what it produces, to acquire what it lacks and also to produce more efficiently in some economic  sectors than its trade partners. International Trade.




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Answer 2

Explanation:-

International trade has an important share in GDP in different countries. Various companies from different countries are looking for new growth opportunities beyond their home country borders. Due to international trade, important sectors of the economies can be stimulated, such as transport and ICT sectors. Thus, international trade can be important for business, due to profits growth prospects, reduced dependence on known markets, business expansion, etc. The increase of international trade over the years has been a result of the globalization process. Thus, both consumers and companies can now choose from a wider range of products and services.

Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization