Rohinat asked in Social ScienceEconomics · 5 months ago

First, define globalization using your own words. Is globalization just economic? ?

First, define globalization using your own words. Is globalization just economic? Then answer this question: Do you think the shift toward a more integrated and interdependent global economy is a good thing?

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  • Oiy
    Lv 6
    5 months ago

    A globalization means that the production processes can be divided and done in many countries to minimize the cost or maximize profits. It follows the international trade network whic has become simultaneous and interdependent. This has been proved by Ricardo that it will create a win win condition of relationship. It will also reduce the absolute advantages. But the reality has proved the other way. China and Japan are mostly the gainer, while the US is the big loser.

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