What Is It? How Did It Happen?

1905 WordsOct 29, 20168 Pages
Globalization- What is it? How did it Happen? Globalization is the international exchanges between different countries, companies, people, cities, regions and governments. This has linked us globally with many people all over the world by the food we eat, clothing we wear and music we listen to. Although globalization is not new, this has been going on for thousands of years and excelling in WWII. Since WWII the government has lessened many barriers that come with international trading using an international agreement. This agreement eliminates tariffs, import quotas, and creates a trade free zones all of which have significantly increased opportunities for international trade and investment. Now in the 20th century with new technology, international communication and transportation trade has been made much faster, cheaper and easier.(10) (7) Economic At the beginning companies would buy and sell goods to each other without leaving their land since transportation to get around was not well established at that time. In the last few decades thanks to technology advancements, trade has significantly exceled internationally. Trading internationally has created what is called a global economy. The cost efficient technology has helped many around the world. This has increased international national trade, financial and transport, and increased roles of international investments. And the use of foreign labor markets is being used to maximize company profit and help other
Open Document