Answer to Question #244705 in Economics of Enterprise for RARA

Question

what is globalization

Answer 1

Globalization is the increasing integration of economies and societies around the world.

Globalization is an inevitable phenomenon in the history of mankind, in which the world becomes more interconnected as a result of the exchange of goods and products, information, knowledge, and cultural values. However, over the past decades, the pace of this global integration has become much faster and more impressive thanks to unprecedented advances in areas such as technology, communications, science, transport, and industry.

Although globalization accelerates human development and is a consequence of it, it is not an easy process to adapt to and which creates serious problems and difficulties. Such a rapid pace of change can be threatening, and most countries try to control or manage it.