Explanation:
The goal of globalization is to have a wide and diverse range of products. consumers, and services. The developed countries invest globally and not only benefit itself but also other countries by creating employment and sharing skills and technology. Developed countries like USA, UK, Japan, Germany, France, Switzerland, China and many others are leaders in the GDP, HDI and IMF and they contribute towards the economic integration and also the trade between countries result in economic growth. But on the other hand, from the perspective of developing countries, global competition results in less profit margins and the local industries find it very difficult to compete with the global giants. In summary, globalization brings employment, technology, Tourism, education, Investment and at the same time it has negative effects such as culture clash, increased domestic competition, and unemployment.
Answer:
Globalization has led to interdependence of world economies. Many nations have formed trade alliances or trade blocs to help their economies grow. As a result, trade has increased for all nations. Giant producing nations, such as the United States, are now contributing a smaller percentage of world GDP as other nations' production has increased.
Explanation:
