Globalization is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalization has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations with subsidiaries in many countries.
Globalization has been taking place for hundreds of years, but has sped up enormously over the last half-century.
Globalization has resulted in:
- ■ increased international trade
- ■ a company operating in more than one country
- ■ greater dependence on the global economy
- ■ freer movement of capital, goods, and services
- ■ recognition of companies such as McDonalds and Starbucks in LEDCs
Although globalization is probably helping to create more wealth in developing countries - it is not helping to close the gap between the world's poorest countries and the world's richest.Another famous phenomenon very famous right
now is the e-commerce. It is the activity of buying or selling of products on online services over the Internet. Here you can buy things such as computers books etc.. The most famous e-commerce sites are Amazon and Alibaba.
Also, the industries that mainly sell products like telephones
