blog 4 Ma Chenxiao

 Economy and globalization are closely related. They promote each other and jointly shape the structure and development direction of modern society. Globalization refers to the increasingly close economic, cultural, technological and political connections around the world, and economic globalization is a core part of this trend, which is specifically reflected in the cross-border flow of goods, services, capital and labor.


First, globalization has promoted the development of international trade. Through the reduction of tariff barriers, the signing of free trade agreements, and the advancement of transportation and communication technology, goods and services can be circulated more conveniently around the world. This not only reduces production costs, but also allows consumers to enjoy a wider range of choices and lower prices.


Second, multinational corporations play an important role in globalization. These companies disperse production chains to different countries, optimize operations based on local resources and labor costs, and promote the formation of global production networks. However, this has also exacerbated economic inequality between developed and developing countries.


In addition, globalization has promoted the spread of technology and the sharing of knowledge, making cooperation between countries closer. For example, through international cooperation, developing countries can obtain advanced technology and management experience and promote economic growth.


However, economic globalization also faces challenges, such as the rise of protectionism, increased environmental pollution and cultural homogenization. In order to achieve sustainable development, countries need to strengthen policy coordination, balance the distribution of interests and promote common prosperity in the context of globalization.

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