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    Jabeth Ibarra
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    Economic globalization refers to the rising interdependence of world economies through increased cross-border trade, capital flows, and technology development. Globalization lowers manufacturing costs for businesses, allowing them to sell goods to customers at a lower cost. This reduction in average product costs and greater selection of goods for consumers leads to rising living standards. For true global prosperity and economic justice, developing countries must also develop and have equal participation in the global economy.

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    Economic globalization refers to the rising interdependence of world economies through increased cross-border trade, capital flows, and technology development. Globalization lowers manufacturing costs for businesses, allowing them to sell goods to customers at a lower cost. This reduction in average product costs and greater selection of goods for consumers leads to rising living standards. For true global prosperity and economic justice, developing countries must also develop and have equal participation in the global economy.

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    11 views1 page

    Untitled

    Uploaded by

    Jabeth Ibarra
    Economic globalization refers to the rising interdependence of world economies through increased cross-border trade, capital flows, and technology development. Globalization lowers manufacturing costs for businesses, allowing them to sell goods to customers at a lower cost. This reduction in average product costs and greater selection of goods for consumers leads to rising living standards. For true global prosperity and economic justice, developing countries must also develop and have equal participation in the global economy.

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    © All Rights Reserved
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    Ibarra, Jennylyn

    BSA – I

    Economic Globalization

    I have learned that economic globalization refers to the rising interdependence of world
    economies as a result of increased cross-border trade in goods and services, international capital flows,
    and the widespread and rapid development of technologies. Manufacturing costs are reduced as a result
    of globalization. This allows businesses to sell goods to customers at a lesser cost. The average cost of
    items is an important factor that leads to rising living standards. Consumers can also choose from a
    greater range of products. The deepening of economic globalization has brought all countries'
    development closer together. There can be no global prosperity or a more just and equitable
    international economic order without the development and equal involvement of developing countries.

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