Economics Globalization Questions
The main factors that shape the process of globalization include technological advancements, economic integration, political factors, and cultural exchange. Technological advancements, such as the internet and transportation, have made it easier for countries to connect and engage in global trade. Economic integration, through the establishment of international organizations like the World Trade Organization and regional trade agreements, has facilitated the flow of goods, services, and capital across borders. Political factors, such as government policies and regulations, play a crucial role in shaping the extent and nature of globalization. Lastly, cultural exchange, driven by increased travel and communication, has led to the spread of ideas, values, and cultural practices across the globe.