Self-contained nations are in the past globalization is now.

Globalization has become an increasingly important issue in today's world and has had a

major impact on the economy, politics, culture, and society in general. Globalization refers to the

increasing interconnectedness and interdependence among countries, people, and businesses

around the world, driven largely by technological advances and trade liberalization.

After the Second World War and over the last two decades, governments in many countries

have adopted free market economies, achieving a considerable increase in the scope of

production, and generating countless new opportunities for trade and foreign direct investment,

allowing economic growth around the world. Governments have reduced trade gaps also

concluded new international agreements allowing companies to expand easily, and efficiently,

and enabled consumers to access a wide range of products and services at lower prices. (national

geographic, 2013)

However, globalization has also led to greater economic inequality between and within

countries. Richer countries have benefited more from globalization, while poorer countries have

seen little or no economic benefit. Moreover, within countries, globalization has increased the

gap between the rich and the poor, as companies have moved production to countries where

wages are lower. (McGrew, 2020)

Another consequence of globalization has been the growing influence of multinational

corporations in politics and society. Multinational companies have great influence on the world

economy and on the politics of many countries, and their power often exceeds that of national
governments. In addition, globalization has led to greater cultural homogenization, as products

and popular culture have spread around the world. (Justine Kyove, 2021)

“This essay contributes to my personal, academic, and professional formation, acquiring

knowledge of globalization and expanding my vocabulary in the English language.”

References.

Justine Kyove, K. S. (05 de 04 de 2021). MDPI. Obtenido de Globalization Impact on

Multinational Enterprises: https://www.mdpi.com/2673-4060/2/2/14

McGrew. (2020). Globalization and global politics. eighth edition.

national geographic. (2013). national geographic org. Obtenido de Effects of Economic

Globalization: https://education.nationalgeographic.org/resource/effects-economic-

globalization/