Globalization refers to the interconnectedness of economies around the world. It has significant implications for trade, investment, and economic growth.
Globalization can lead to increased economic efficiency, access to larger markets, and the sharing of technology and innovation. Countries can specialize in what they do best, leading to greater overall productivity.
Globalization can enhance economic opportunities.
However, globalization also presents challenges, such as job displacement and income inequality. Policymakers must address these issues to ensure that the benefits of globalization are widely shared.