Question

Which of the accompanying components impact the interaction of globalization? (1) End of Cold War in 1990 (2) Large progression of asset between nations (3) Financial superiority (4) Integrating with the world economy

a. Just the host country
b. At least three countries in addition to the host country
c. At least one other country
d. Through internet only sales

Answer 1

Answer:

Globalization refers to the process by which technological, economic, political, and cultural exchanges make the world a more interconnected and interdependent place.

Although the phenomenon of globalization is not new, political, economic, and technological developments in the 1990s accelerated the processes of globalization and contributed to the emergence of a public debate about its advantages and disadvantages.

The effects of globalization have been uneven, with some people, industries, and countries benefiting more than others.

What is globalization?

Globalization refers to the technological, political, economic, financial, and cultural exchanges between peoples and nations that have made and continue to make the world a more interconnected and interdependent place. In the business world, this includes increased trade and investment flows, currency exchange, and the rise of multinational corporations. Communication and transportation technologies are capable of linking people who are physically distant from one another, thereby facilitating the exchange of culture, knowledge, and ideas.^1

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Although the concept and vocabulary of globalization is fairly recent, emerging most forcefully in the 1990s, the processes of globalization are as old as history itself. This is because humans have always engaged in cultural exchange, the dissemination of knowledge, and the trade of goods and services. However, important developments in the latter part of the twentieth century, particularly the 1990s, accelerated these processes.^2

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Globalization in the 1990s

With the collapse of the Soviet Union in 1989 and the end of the Cold War in 1991, the world became moresst interconnected. This is because the communist bloc countries, which had previously been intentionally isolated from the capitalist West, began to integrate into the global market economy. Trade and investment increased, while barriers to migration and to cultural exchange were lowered.

Explanation:

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