The Importance Of Globalization

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Globalization has remarkably been driven by the interests as well as needs of the relatively developed countries, and as a result, it has turned the world into a big village which has led to an intense electronic corporate commercial war in the aim of getting the attention and nodding of the customers globally. Since the start of the 21st century, the U.S. economy has been the largest and one of the most diversified economies across the globe, which in other words, can be regarded as the world engine regarding the global economy. One of the main distinctive features of the particular economy is its remarkable focus on the scientific progress incorporated with the advanced technology. Thus, the country has emerged to be a leader in the implementation of the results of scientific and technical advances in respect to the production of export licenses for their discoveries and inventions. As a result, this has led to a dependence of other states from the United States in science and technology; thus, it forms the basis for the formulation of foreign policies of the state. Thus, the globalization has the potential of bringing certain vital changes in the economic environment through the creation of connections between economies because, in a globalized world, the economies are interdependent and can interact and benefit one another. A substantial contribution to the country’s economic progress has been realized via the process of globalization that was initiated by various

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