Global Industrialization

The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information is the...

• Multiculturalism

• International Trade

• Globalization

• Ecommerce

The wide-ranging effects of globalization are complex and politically charged.

• True

• False

As with major technological advances, globalization harms society as a whole, while benefiting certain groups.

• True

• False

Globalization started together with the steamships, railroads, telegraphs, in the early XVIII century.

• True

• False

The comparative advantage encouraged by the globalization, brings these effects to the society:

• Promotes economic growth

• Lowers prices of goods and services

• Makes production more efficient

• All of the above

Globalization benefits are: (Choose as many as you want)

• Limiting military conflicts

• Increases competition

• All

• Makes markets more efficient

This benefit tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies.​

• Economies of scale

• Foreign Direct Investment

• Technological Innovation

Globalization enables large companies to realize economies of scale that reduce costs and prices, which in turn supports further economic growth, although this can hurt many small businesses attempting to compete domestically.​

• Economies of scale

• Technological Innovation

• Foreign Direct Investment

Increased competition from globalization helps stimulate new technology development, particularly with the growth in FDI, which helps improve economic output by making processes more efficient.​

• Economies of scale

• Technological Innovation

• Foreign Direct Investment

Which are the Globalization risks?

• Interdependence

• National Sovereignty

• Equity Distribution

• All of the above