Blog 4:What is the relation between economy and globalization
Economy and globalization are areas of interaction between countries beyond individuals and companies. Economy refers to a social phenomenon based on human behavior that produces, distributes, and consumes goods and services. The economy was created because surplus resources were created, creating various gaps between people. This is more pronounced at the global level. In the past, economies had limited impact. The reason is that the cost that humans could consume, such as time and capital, was limited by the technological level. However, events connecting the continent gradually occurred, such as Magellan's trip around the world and Columbus' development of the Americas, and as technologies such as Marconi's wireless communication began to develop, connections with more diverse countries began. In this process, a country with technology that no other country had was bound to become a relatively powerful country, and naturally, developing countries existed as a powerful...