Question

Why does globalization work best for 21th century?

Answer 1

Answer:

Globalization in the 21st Century, perform the valuable task of raising awareness about our interconnected world and highlighting the need for international cooperation and better governance.

Answer 2

Globalisation is the growing inter-dependence of the globe’s economies,  populations, cultures owing to by cross-border trade in goods/services,  investment flows, technology, information , and people.

Explanation:

• More and more businesses are established in other countries as globalization increases. This increases the employment opportunities which people atone place have. Without the need for traveling to other countries in search of better employment, people will get decent jobs within their country
• With the rise of globalization, people are traveling across boundaries to various areas of the world to study further. This resulted in communities being integrated. People from developing  and  underdeveloped nations often move to developed nations to get better education.
• Increased free trade has opened the doors for developed nation investors to invest capital. Big enterprises in developed countries can now work freely without much trade barriers in developing countries
• Information flows automatically from one part of the world to another and thereby links the globe. Vital information can be communicated very quickly among individuals and companies. It has also made it easier for people and goods to be transported.
• As a part of globalisation, the highest quality of products/services in the world is available to everyone. Companies will aim to provide the customer with higher quality services and products and customers have the right to choose the commodity that they find ideally suited to their needs.
• The barriers between different cultures tend to decrease with people moving from one nation to another. This has culminated in openness and tolerance to other cultures. The contact amongst cultures and, thus, countries was also encouraged. It also reduced conflicts because we live in one of the most prosperous periods of human history today.
• Thanks to accelerated globalization, the competition in the market has intensified, and the manufacturers have to sell their goods competitively to stay on the market. The customer will get quality goods at reduced costs and this is a blessing.