Globalisation

 Globalization means the increasing interconnectedness of countries and economies around the world through the flow of goods, services, capital, people, and information, essentially making the world more integrated through trade, communication, and cultural exchange; its effects can include economic growth in some regions, increased competition in markets, cultural exchange, but also potential issues like job displacement, environmental concerns, and unequal distribution of benefits across nations. 

Key points about globalization:

Increased trade: Companies can easily operate across borders, buying and selling goods and services globally. 

Flow of capital: Money can move freely between countries for investments and financial transactions. 

Migration: People move to different countries for work, study, or other reasons. 

Technology impact: Advances in communication technology facilitate global interaction. 

Positive effects of globalization:

Economic growth: Access to wider markets can boost economic development in developing countries. 

Lower prices: Increased competition can lead to lower prices for consumers. 

Knowledge sharing: Transfer of technology and ideas across borders.