Benefits of Globalization

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Globalization Introduction Globalization is a term used in literature to refer to the increasing interconnectedness between markets in many countries. With the advantages of new technologies, assets and investments can now flow through international borders faster than they ever have at any point in history. Many corporations have taken advantage of the opportunities to expand internationally and operate on a multinational basis; some span the entire globe in their business operations. The level of economic interconnectedness has also had implications for politics and foreign policies of the governments involved. However, the one of the most interesting developments with the increasing demand for energy; often referred to as the globalization of energy. Despite the many of the problems associated with this trend, there are a plethora of benefits to be gained through the increased supply of energy to meet the growing demand. Globalization connects countries through their shared interests and mutual business activities as well as fosters innovation; all of these activities demand energy For example, when a corporation into a foreign market it brings with it investments and creates new jobs. It also works to develop infrastructure. Even in the contemporary period, one quarter of the world's population lack electricity (Gronewold, 2009). Labor markets can specialize in any one trade that offers them a competitive advantage. However, globalization has also come with a

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