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Invite Friends and Get Coins

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Globalization

Student’s Name

Institution Affiliation

GLOBALIZATION

Globalization is the increase in integration and interdependence of the world economies.This is whereby different countries are able to interact,share ideas,interrelate,exchange goods and services and hence supporting the economies of each countries involved.
This interdependence of world economies came up because countries needed to exchange goods and services that were not available in the individual countries.The capitalization of globalization was brought about by several factors,one of those factors is improved transport and communication which enhanced movement of people and goods from one country to another.Improving trade among the countries and hence making the economy better.
Improved technology is also another contributing factor to the spread of globalization whereby people are able to share ideas without limitation of distance or network coverage.This has well enhance trade,since people are able to setup many companies in different parts of the world and even carry out meetings without physically being there.
Thirdly existence of trading blocks has also contribute a lot in spreading of globalization.This is whereby several countries come together to form one body such as (COMESA,UN) to enhance exchange of goods and services among the countries involved.
The trading blocks ensure that goods exchanged between these countries are available at an available at an affordable prices compared to where they are in the outside market in trading blocks.This brings about good cooperation among these countries and also promoting good productivity hence promoting globalization. Last but not least,reduced tarrif’s has also led to the interdependence of the

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