What is globalization and How it has helped in development of different countries?
Answers
Answer:
Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe
Explanation:
Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country. ... Many developing nations began to take steps to open their markets by removing tariffs and free up their economies.
Answer:
Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country. ... Many developing nations began to take steps to open their markets by removing tariffs and free up their economies.
Explanation:
Free trade is a way for countries to exchange goods and resources. This means countries can specialise in producing goods where they have a comparative advantage (this means they can produce goods at a lower opportunity cost).
First, globalization – that is the trend of increasing integration of economies in terms not only of goods and services, but of ideas, information and technology – has tremendous potential benefits for developing countries.
What Are the Benefits of Globalization?
- Access to New Cultures. ...
- The Spread of Technology and Innovation. ...
- Lower Costs for Products. ...
- Higher Standards of Living Across the Globe. ...
- Access to New Markets. ...
- Access to New Talent. ...
- International Recruiting. ...
Managing Employee Immigration.
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