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Self-Contained Nations Are in The Past Globalization Is
Self-Contained Nations Are in The Past Globalization Is
Globalization has become an increasingly important issue in today's world and has had a
major impact on the economy, politics, culture, and society in general. Globalization refers to the
around the world, driven largely by technological advances and trade liberalization.
After the Second World War and over the last two decades, governments in many countries
have adopted free market economies, achieving a considerable increase in the scope of
production, and generating countless new opportunities for trade and foreign direct investment,
allowing economic growth around the world. Governments have reduced trade gaps also
concluded new international agreements allowing companies to expand easily, and efficiently,
and enabled consumers to access a wide range of products and services at lower prices. (national
geographic, 2013)
However, globalization has also led to greater economic inequality between and within
countries. Richer countries have benefited more from globalization, while poorer countries have
seen little or no economic benefit. Moreover, within countries, globalization has increased the
gap between the rich and the poor, as companies have moved production to countries where
corporations in politics and society. Multinational companies have great influence on the world
economy and on the politics of many countries, and their power often exceeds that of national
governments. In addition, globalization has led to greater cultural homogenization, as products
and popular culture have spread around the world. (Justine Kyove, 2021)
References.
Globalization: https://education.nationalgeographic.org/resource/effects-economic-
globalization/