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What is Globalization? [Video]

What is Globalization?

In this video, we will discuss what is globalization, the factors contributing to it, how it actually works, and the pros and cons of globalization.

What is Globalization?
It is an extension of trade, commerce, and culture of a particular economy along with the different nations. As a result, it permits the interchanging of various domestic products, technologies, food, and other resources on a global scale.

Globalization Characteristics
– Flourishing TRADE
– Movement of capital from one region to another region
– Exchange of knowledge
– Interconnectivity of different sectors
– Promoting international investment
– Exchange of services and goods

Benefits of Globalization
– Provides cross border connectivity
– Promotes the dependency of nations
– Helps in providing a free trade environment
– Helps in expanding the business globally
– Creates newer job opportunities
– Workforce migration
– Cultural integration
– Lower taxes on international business

Drawbacks of Globalization
– Immigration issues for the workforce
– Uneven distribution of wealth
– Labor exploitation
– Economic downfall in one nation impacts other countries
– Competition from local sellers and loss of customers in the local market.

For more details, you can refer to our article – https://www.wallstreetmojo.com/globalization/
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