Globalization

A detailed Summary of Globalization


In our book globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has two main components, first is the globalization of markets, and second is the globalization of production.

The Globalization of Markets: moving away from an economic system in which national markets are distinct entries, isolated by trade barriers and barriers of distance, time, and culture, and toward a system in which national markets are merging into one global market. Prototypical examples of this



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