What is the relation between economy and globalization? - Kang Taeho

The relationship between the economy and globalization is very closely related. The reason is that today's countries cannot be competitive in the world through growth in the domestic market. There are many examples of this relationship in fact throughout history. From the moment the concept of a country was born, the economy was closely related to globalization, and it can be said that the economy has been globalized since ancient times, such as European countries buying spices from India and giving the newspapers they brought to India.


If you look at it based on examples from the 21st century, you can see various trade agreements and transaction structures. As Korea's major industry is exports, we have made economic agreements with various countries through globalization. We have signed various agreements such as FTAs, defense agreements, nuclear power, and construction orders, which are greatly helpful to the national economy. 


The United States, on the other hand, can be seen as a representative country with leadership in this globalization market. The United States also takes steps to ensure that its brands are not pushed out of the economic market by setting more taxes on products from other countries in the economic market through globalization for the growth of its companies..


Globalization is also close to the digital economy market. Typically, the opening of the stock market allows foreigners to trade in other countries' stock markets. This allows them to invest in brands that are world-famous but are listed in other countries. 


We can also see globalization in the case of money. You can see European countries forming coalitions to consolidate their currencies, which strengthen their competitiveness in economic markets. On the contrary, there have been cases like the United Kingdom where they have come out of the union and they have increased their value.


In conclusion, globalization has created many opportunities to interact with various countries. This has paved the way for countries to have a lot of influence on the global economic field, gaining a larger economic market than before. So the economy and globalization are very closely related.

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