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Impact Of Globalization

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Globalization has a huge impact to nearly every aspect of life in this modern era. Globalization refers to the movement towards a borderless world and the interdependence of global economies. In other words, we can consider globalization as an economic integration of the world through the greater trading, investments, marketing demands and the dispersion of technologies. It involves other aspects of life such as exchanging thoughts and ideas from all over the world and some of the people are also moving to other countries. However, the speed of globalization varies from nation to nation and sector to sector. Generally, globalization not only can be seen in the economic activities, it also includes the proliferation of technologies where communications and distribution networks are becoming significant in people’s life. The area that surrounds globalization in our modern era involves Industrial, financial, political, information and cultural globalization. Our world has achieve better growth among all these areas and globalization has become more apparent with the intensification of the greater international movement of commodities, money, information, people and the development of technology, organizations, legal systems, and infrastructure. This has resulted in the existence of certain patterns in the global market, as seen economically, culturally, technologically, as well as legally. Economically, there has been a rapid increase in the growth of the world

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