Globalization.docx
- 1. 1. What is Globalization? The term "globalization" refers to the increasing interconnectivity of the world's economies, cultures, and populations due to cross-border exchange in products and services, technology, and flows of investment, people, and information. 2. How have you experienced globalization? Globalization is a huge impact on our economy nowadays. Many countries will represent their cultural situation and export to different countries to be represented and advertised. As people are interested in some entertainments like the culture of Japan, people will visit the country, and the country’s economic income will increase because of the foreign people. 3. Why is it crucial to emphasize that globalization is uneven? Over the previous two centuries, the global economy has gotten increasingly uneven. This inequality is defined by growing economic gap across countries, but not necessarily within counties. During the same time, the global economy has grown more integrated. As a result, some economists propose a link between global economic integration and economic inequality. The developing countries that changed their policies to capitalize on globalization gained the most, while those that benefited the least did not or were too isolated to change economic and political policy successfully. A more connected global economy would be unequal than today's barrier-filled, somewhat globalized global economy. 4. What is the difference between globalization and globalism? Globalism is the worldwide operation or planning of economic and foreign policy. While Globalization is a process through which corporations or other organizations gain worldwide power or begin to operate on a global scale.