My Ssec Capstone Project Effects of globalization on economic growth Globalization is ideal for economic growth through cooperation between countries with economic strength and those whose economies are still developing

Effects of globalization on economic growth Globalization is ideal for economic growth through cooperation between countries with economic strength and those whose economies are still developing

Effects of globalization on economic growth
Globalization is ideal for economic growth through cooperation between countries with economic strength and those whose economies are still developing. It is seen as a chance through which developing countries and can do better economically. Barriers are broken to ensure free flow of capital, goods and technology. Factors such as advancement in technology, development of infrastructure, telecommunication and the widespread usage of the internet have made globalization easier. Some of the positive effects are immigration, increased markets, increased competition between businesses, spread of wealth and technological advancement. However, globalization has its disadvantages such as inequality the risk of losing, interdependence, and the possibility of dominance by few countries. There are both positive and negative impacts of globalization on economic growth.

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