Understanding Globalization: Pros, Cons, and History

Globalization is the process by which ideas, knowledge, information, goods and services ______ around the world

In business, the term is used in an economic context to describe integrated economies marked by free trade, the free flow of capital among countries and easy access to foreign resources, including labor markets, to maximize returns and benefit for the common ______

In a globalized economy, countries specialize in the products and services they have a competitive advantage ______

If all countries were specializing in what they do best, production should be more efficient worldwide, prices lower, economic growth widespread and all countries benefiting -- in ______

The more countries and regions of the world become intertwined politically, culturally and economically, the more globalized the world ______

Communication technology. The introduction of 4G and 5G technologies has dramatically increased the speed and responsiveness of mobile and wireless networks. Increased speed and bandwidth are among the benefits of 5G ______.

IoT and AI technologies are enabling the tracking of assets in transit and as they move across borders, making cross-border product management more ______.

Blockchain. This technology provides a transparent ledger that centrally records and vets transactions in a way that prevents corruption and breaches. It facilitates the secure access to data required in industries such as healthcare and ______.

Advances in air transport and fast rail technology have facilitated the movement of people and ______.

3D printing enables digital designs to be sent anywhere and physically printed, making distributed, smaller-scale production near the point of consumption ______.