Question

What is globalization?

Directions: In the box below, answer the question: What is globalization?
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Answer 1

'Globalization' describes how global trade and technology have brought the world closer together and made it more interdependent. In addition to the economic and social changes brought about by globalization, globalization also encompasses technological changes.

Throughout millennia, the web grew in number and reached, as if it were a vast spiderweb. There is no limit to what can be transported through these silken strands. We are now seeing people, money, material goods, ideas, and even disease and destruction traveling more quickly than ever before.

• The broad influence of globalization can be seen in the choices we make on a daily basis in our personal, economic, and political lives. In the world of health care.
• for example, greater access to modern technologies could be the difference between life and death.

• Communication-related benefits include facilitating commerce and education, as well as providing access to independent media.
• Immigration, the environment, and legal issues are all non-economic issues that can be solved through globalization.
• In addition, the influx of foreign goods, services, and capital can spur citizens to demand a stronger education system as they recognize the competitive challenge they are facing.

Answer 2

The answers to the questions are given below

What is globalization?

Globalization is a term that is often used to depict the increase in the growth rate of the interdependence of the global economies, cultures, and also in populations.

What is one example of globalization?

The first example of globalization is the Silk Road which was known to be the first and ancient network of trade routes that span across China, Central Asia, and others. Another is Multinational corporations such as McDonald's and others.

What was the purpose of NAFTA?

The aim of NAFTA is to remove all tariff and also every non-tariff barriers of trade and investment that is said to exist between the United States, Canada and Mexico.

How did the Clinton administration try to adjust to globalization?

President Clinton try to improve the economy as he was known to have signed Small Business Job Protection Act that is of 1996 which was said to have lowered taxes for a lot small business.