Explain the consequences of the decrease in globilisation on developing and developed nations.
Globalization: Globalization is an economic phenomenon in which there are two or more countries come together for a common objective to import and export goods and services among themselves so as to increase the investment and foreign market value in another country.
In simple words, Globalization refers to the worldwide interconnection of people and enterprises, which eventually leads to global cultural, political, and economic integration. It is the capacity to move across different countries and interact with other countries in order to conduct trade. The rise of global markets aids the deregulation of economic activities such as commodity trade and financial transactions.
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