Chapter 17: What are the benefits of globalization?
a. The benefits of globalization include: trade, an increase in economic growth, and higher prices. It offers access to foreign capital, global export markets, and advanced technology.
b. Globalization enables greater trade and competition between different economies, leading to lower prices, greater efficiency and higher economic growth. Additionally, it has made it easier to attract short and long term investment.
c. There are no benefits of globalization. Developing countries often struggle to compete with developed countries. It has increased the use of non-renewable resources, and contributing to an increase of pollution.
b. Globalization enables greater trade and competition between different economies, leading to lower prices, greater efficiency and higher economic growth. Additionally, it has made it easier to attract short and long term investment.
c. There are no benefits of globalization. Developing countries often struggle to compete with developed countries. It has increased the use of non-renewable resources, and contributing to an increase of pollution.