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Why is ecnomy important to globalization?

User Matuszew
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Answer:

Read below:

Step-by-step explanation:

Globalization is the sharing of goods, knowledge and services between countries and organisations worldwide. This in turn forms an intrinsic relationship with global economic markets, various countries interdepend on one another to share goods and services, for example workers and food.

Furthermore the economy also includes the consumption of goods and services, many of which come from abroad and produced with shared expertise. One example is western Europe's reliance on Russian gas, this energy provides a service(heating people's homes and to cook) which would not be possible without a globalized economy.

In conclusion, it could be argued that the modern economy is reliant on globalization, what occurs in one part of the world can have enormous consequences on stock price and inflation worldwide as witnesses in the ongoing Ukrainian war. The economy is as important to globalization, as globalization is important to the economy, for the reasons I have discussed above.

User Dewasish Mitruka
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