What is globalization?

Globalization is the interconnectedness of the world economies, cultures, and societies. It is a process that has accelerated over the last few decades due to advancements in technology, transportation, and communication. Globalization has led to businesses and individuals being able to engage in cross-border trade, investment, and cultural exchange. It has also facilitated the movement of goods, services, and people across borders, resulting in an increase in the mobility of labor and capital. Although globalization has brought many benefits, such as increased economic growth, it has also created challenges, such as the loss of jobs in developed countries and exploitation of workers in developing countries.

This mind map was published on 1 May 2023 and has been viewed 98 times.