Question

What do you understand by the term globalization of the economy.250 words?

Answer 1

Economic globalization is an Irreversible Trend. Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies.

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. ... Likewise, for centuries, people and corporations have invested in enterprises in other countries.
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