Overview
Globalization significantly impacts domestic economies by increasing trade, investment, and cultural exchange. It can lead to economic growth and job creation in competitive sectors, but it also poses challenges such as job displacement and income inequality. Understanding these dynamics is crucial ...
Key Terms
Example: The rise of multinational corporations is a result of globalization.
Example: NAFTA is an example of trade liberalization in North America.
Example: A U.S. company opening a factory in India is an example of FDI.
Example: China's rapid economic growth has lifted millions out of poverty.
Example: Globalization can exacerbate income inequality in developing countries.
Example: Cultural festivals often showcase food, music, and art from different cultures.