Write a paragraph explaining how globalization has affected nations around the world. Use details from the lesson to support your answer.
Answers
Answer:
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Explanation:
The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown rather steady and rapid progress in recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged.
KEY TAKEAWAYS
Globalization is a process through which businesses or other organizations create influence, or develop operations around the world.
Globalization is a combination of gross domestic product (GDP), industrialization, and the Human Development Index (HDI).
Developed nations benefit under globalization as businesses compete worldwide, and from the ensuing reorganization in production, international trade, and the integration of financial markets.
Some economists argue globalization helps promote economic growth and increased trading between nations; yet, other experts, as well as the general public, generally see the negatives of globalization as outweighing the benefits.
Globalization has resulted in global economic interconnectedness. To assist their economies flourish, many countries have created trade agreements or blocs. As a result, commerce between all nations has risen. As other countries' output has expanded, giant producing nations like the United States are providing a lower proportion of global GDP.