Essay about How Globalization Affects The Economy

1289 Words Dec 17th, 2014 null Page
How Globalization Affects The Economy
Because of cultures, resources, and governments Globalization has affected the economy dramatically. Globalization is not always described just for the economy, it is also described cultural, biological, and political homogenization on a whole national global scale (Issitt and Marlanda). The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a 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 (How Globalization Affects). Almost all countries in the world has been affected by globalization, because all countries have an economic system that they use and have to go by.
Globalization is defined as a process that, based on international strategies, aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments (How Globalization Affects). Corporates over many nations have established factories in order to trade and how it affects the economy worldwide. Trading affects how much money can be spent on items that are necessary for ones country. Without any money being spent on trade or anything else no country…

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