Economic Globalization

Economic globalization refers to the increasing interconnectedness and interdependence of national economies across the world. This process involves the exchange of goods, services, information, and capital across borders, driven by advancements in technology, trade agreements, and investment flows. As countries open their markets, businesses can operate internationally, leading to greater competition and innovation. While economic globalization can foster growth and provide consumers with more choices, it also raises concerns about inequality, job displacement, and environmental impacts as local economies adjust to global demands.