Globalization

1. Definition

1.1. Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade

2. Disadvantages

2.1. Companies face much greater competition. This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale

2.2. Globalisation can have negative effects on local industry

2.3. Inequality of income

2.4. High economic inequality between countries

2.5. High escape of capital

2.6. Environmental demotion

3. Effects

3.1. Poltical

3.2. Culture

3.3. Economic

3.4. Technological

4. Advantages

4.1. t opens the borders between the nations and increases the awareness about the differences between us (racial, religious, traditions)

4.2. Companies get get access to much wider markets

4.3. It promotes understanding and goodwill among different countries

4.4. Businesses and investors get much wider opportunities for investment.

4.5. Resources of different countries are used for producing goods and services they are able to do most efficiently

5. Causes

5.1. Improved Communications

5.2. Improved Transport

5.3. Free Trade Agreements

5.4. Global Banking

5.5. The Growth of MNCs