Question

write any two economic effect of globalisation​

Answer 1

Answer:

• While globalization has radically increased incomes and economic growth in developing countries and lowered consumer prices in developed countries
• It also changes the power balance between developing and developed countries and affects the culture of each affected country.

Answer 2

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Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization.

[1] Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.

[2] Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational regimes, institutions, corporations, and labour