What is globalization?

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Toyota cars are made by a Japanese corporation, but the chassis of the car are made in England, the engines in Wales, the tires in Japan, the wiring in China, the seat belts in the Czech Republic, and the headlights in France. Like many goods that we're familiar with, these cars are manufactured in a number of different places in the world. This is an expression of globalization. 

In 1986, global trade reached a scope of approximately 2,000 billion US dollars, and 10 years later, it reached 5,200 billion US dollars. As a result of this 260% increase, foreign-made products that were rarely seen in countries around the world prior to globalization became a common sight. Globalization is much more than international trade. Global chains and cheap goods. 

Globalization is a process where countries around the world are becoming closer in a number of areas. It influences people, immigration, employment, ideas, and knowledge. 21% of Canadians were not born in Canada, 69% of Kuwaitis are foreigners, and factories of international companies are built in various places around the world, employing numerous workers. Many goods are manufactured and sold identically around the world. Globalization changes the face of society, is the source of demonstrations and revolutions, presents us with faraway cultures, and even allows us to pursue justice around the world. 

The main economic expression of globalization is international trade, and it brings knowledge within reach, enriches our knowledge, and expands it. World trade has grown at twice the rate of the global economy since 1960, partly as a result of globalization in the financial markets, payments, injections of capital and cross-border investments. 

Global trade has caused the rise of many world powers in history. Marco Polo in 1306, Columbus in 1492, Bretton Woods in 1945, and the fall of the Berlin Wall in 1989. In the long term, it is apparent that financial empires overcame military powers. In the late 20th century, global trade made China into the power that it is. With cheap manpower, China created an enormous export machine that many claim have harmed numerous industries around the world, such as the textile industry. The factors that drive globalization cannot be stopped.

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