Blog 4: What is the Relation Between Economy and Globalization? ---HAN JIAYI
The relationship between economy and globalization is interdependent and mutually reinforcing. Globalization has pushed economic activity beyond national boundaries, bringing resources, goods, services, capital and labour closer together around the world, while rapid economic growth has in turn contributed to the deepening of globalization. Economic globalization has enabled countries to access larger international markets and increase exports, thereby contributing to economic growth. For developing countries, this means more opportunities to expand their economies and raise living standards. In addition, some multinational companies have played an important role in globalization, such as Apple and Google, which not only generate income for their countries, but also create jobs for other countries. Globalization has made the economy more open. For example, we can now buy goods from all over the world. Foreign foods and drinks, such as New Zealand's milk powder, Korean kimchi, and ...