GENERAL KNOWLEDGE

Detailed explanation-1: -In general, globalization has been shown to increase the standard of living in developing countries, but some analysts warn that globalization can have a negative effect on local or emerging economies and individual workers. Globalization is not new.

Detailed explanation-2: -Some of the studies in the literature suggest that globalization increases the economic growth by contributing to the expansion of foreign trade volume, the increase of investment and productivity and global competition power.

Detailed explanation-3: -It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.