Globalization is the process of making products and services available worldwide through free trade between nations.
What is Globalization ?
Globalization is the spread of information, goods, technology and jobs across different countries and the interdependence of countries facilitated by free trade. It has had a considerable impact on social, cultural and economic phenomena. For instance, it enables easier and simpler communication among various populations along with the exchange of ideas and values. Economically, globalization allows corporations and firms to be present worldwide and spread their products and services all across the world and gain larger profits. However, since the nations are interdependent, an economic downfall in one country can result in a domino effect through its trade partners.