1/28/2024 0 Comments Global cities are clearly connected to globalization, which, as you read in the text, is defined asThe global success of Korean-based companies such as Samsung, Hyundai, and Kia have helped the state to increase its wealth and quality of life for its people (Dixon, 2011). A strong example of this is South Korea, which currently stands as the 15th largest economy in the world (Dixon, 2011). The broader markets have helped many states see an increase in their way of life. Because of businesses have widen their market, we have seen more efficient markets, as well as a higher wealth equality around the world (Rao, 2013). Today, we still see positive effects of global trade and business. Though initially the trade would include food, tools, and animals, it eventually evolved into a trade of ideas, methods, and beliefs. Many point to trade as the start of globalization, when ancient civilizations would exchange resources with each other. One of the most prominent parts of globalization is its effects on trade and economic growth. By looking at major world events, as well as the growth of the world’s economy, it can easily be argued that globalization has had a positive effect on the world. However, globalization has been defended with claims that it encourages prosperity throughout the globe, and has created stronger relations between states. Many people have argued that this causes more harm than good, as it can create worldwide consequences from the mistakes or failures of one or few states. By definition, globalization is “the process of increasing interconnectedness among societies such that events in one part of the world more and more have effects on peoples and societies far away” (Lamy, 2015). The effects vary from social, political, and economic, all aspects of everyday life. Globalization has had an effect on just about every state in the world.
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