Contemporary World Activity 1
Globalization Globalization is the process by which ideas, knowledge, information, goods and services spread around the world. In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common good. Globalization, or globalisation as it is known in some parts of the world, is driven by the convergence of cultural and economic systems. A. Broad and Inclusive Definition The Advantages and Disadvantages of Globalization The Advantages of Globalization • Increases econo mic growth . By increasing the international exchange of goods, technological advances, and information, globalization increases economic development for any count...