As a result of technology, cross-border trade in goods and services, and flows of capital, labor, and information, economies, cultures, and populations around the world are becoming more and more interdependent. This phenomenon is referred to as "globalisation."
The term "economic globalization" refers to the increasing interdependence of world economies as a result of the growth of global capital flows, the rapid and widespread spread of technology, and the volume of cross-border commerce in products and services.
There are advantages to globalization in many different areas. It increased cultural interactions and simultaneously developed economies everywhere. Additionally, it permitted financial transactions between businesses, shifting the nature of work. Today, a large number of people call the world home.
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