The spread of globalization impacted the world in a huge manner due to the improvement of technology,international and domesticated trade.
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History of Globalization pt. 2
Improved technology is undoubtedly very influential in helping globalization. Without technologies such as the internet and global communication, it would not have been possible to witness the increased interdependence of companies and countries.Increased free trade is important as well. "However, there are various trade barriers still in existence, and this has not stopped the growth of globalization" (economichelp). -
History of Globalization
Globalization began around the 1950's after World War 2. The world economy has become increasingly interdependent for a long time. "However, in recent decades the process of globalisation has accelerated; this is due to a variety of factors, but important ones include improved trade, increased labour and capital mobility and improved technology" (economichelp). Globalization was also driven by the global expansion of multinational corporations based in the United States and Europe. -
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Definition
Globalization is the process by which businesses or organizations develop an international influence on an international scale (dictionary). Globalization is the integration of national economies through trade, investment, *capital flow, labor migration, and technology. It results from the removal of barriers between these national economies. The strongest impact on accelerating the pace of globalization was the lowering of +tariffs (GATT) that restricted free and open trade among nations that.. -
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Examples
Globalization in economics is one major example that has produced multinational corporations to operate on a global scale. For example, automobiles use different parts from other countries to be assembled in the United States (parts coming from Japan, Germany, or Korea (Green). Another example of the spread of *international globalization is McDonald's spreading to Japan and other countries which shows growth of companies throughout the world. For *domestic globalization, the U.S. and Europe... -
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Definition pt. 2
helped globalize the world economy, transportation, and communication technologies (merriam-webster). -
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Examples pt. 2
they set up new banking regulations which were introduced to capital flow in order to reduce contagion. As well as tariffs being put into place to protect domestic industries.
