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Review:

Economic Globalization

overall review score: 3.5
score is between 0 and 5
Economic globalization refers to the increasing interconnectedness of national economies through international trade, investment, and technology transfer.

Key Features

  • Trade liberalization
  • Foreign direct investment
  • Global supply chains
  • Migration of labor
  • Integration of financial markets

Pros

  • Increased economic growth and prosperity
  • Expansion of opportunities for businesses to reach global markets
  • Access to a wider variety of products and services for consumers

Cons

  • Growing income inequality between nations and within countries
  • Loss of domestic jobs to lower-wage countries
  • Environmental degradation due to increased production and transportation

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Last updated: Thu, Jan 9, 2025, 01:43:23 PM UTC