2 homeworks each one has two parts
Edwingary
Globalization.pptxGlobalization
Globalization
The spread of ideas, goods, and services around the world is known as globalization.
It refers to the rising interdependence of world economies as a result of increased cross-border trade in goods and services, international financial flows, and the widespread and rapid development of technologies.
History of Globalization
Globalization has been happening over the years .
For instance during the Roman empire it spread its economic system across the world for centuries .
The Silk Road trade routes brought merchants, goods, and travelers from China to Europe via Central Asia and the Middle East, and signified a new phase of globalization.
Globalization first became popular in the 1980s, as a result of various technology developments that made international transactions easier.
The speed of globalization has accelerated dramatically in the twenty-first century, owing mostly to significant technological and telecommunications advancements
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Characteristics of globalization
Globalization is important as it allows the integration of different countries, contributes to economic growth and international trade .
The characteristics of globalization include
Free trade
Liberation
Multidimensional process
Connectivity .
Advantages and Disadvantages of globalization
solve fundamental global economic problems like poverty and unemployment by encouraging a free market that helps both rich and poor countries.
The goal of free trade is to decrease trade obstacles between countries.
As a result, economic growth is boosted, jobs are created, companies become more competitive, and consumer costs are reduced.
Disadvantages
Increased competition
The top ten countries share of GDP and international trade are United States , China ,Japan , Germany , India ,United kingdom ,France , Italy , brazil , Canada.
Globalization has contributed to Canada economic growth .It has significantly contributed to Canada high rate of international trade and investment .
Technology changes and advancement have helped Canada reach and explore new markets , hence have access to new customers .
Reference
Burlacu, S., Gutu, C., & Matei, F. O. (2018). Globalization–pros and cons. Calitatea, 19(S1), 122-125.
Coulibaly, S. K., Erbao, C., & Mekongcho, T. M. (2018). Economic globalization, entrepreneurship, and development. Technological Forecasting and Social Change, 127, 271-280.
