What is globalization? Enumerate three forces of globalization.
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Globalization refers to the interconnectedness and interdependence of economies, societies, cultures, and institutions on a global scale. It involves the movement of goods, services, capital, information, and ideas across national borders, breaking down barriers and creating an integrated global economy.
Three key forces driving globalization are:
Technological Advances:
Economic Liberalization and Trade Agreements:
Global Capital Flows:
These forces collectively contribute to the interconnected and interdependent nature of the globalized world, influencing economic, cultural, and social interactions on a global scale.