Critics say globalization is detrimental for less wealthy nations, for small companies that can't compete with the bigger firms, and for consumers who face higher production costs and the risks of jobs being outsourced.Some economists argue globalization helps promote economic growth and increased trading between nations yet, other experts, as well as the general public, generally see the negatives of globalization as outweighing the benefits. Developed nations benefit under globalization as businesses compete worldwide, and from the ensuing reorganization in production, international trade, and the integration of financial markets.Globalization is a combination of gross domestic product (GDP), industrialization, and the Human Development Index (HDI).Globalization is a process through which businesses or other organizations create influence, or develop operations around the world.
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