Globalization impacts national economies from "summary" of EBOOK: Macroeconomics by Rudiger Dornbusch,Stanley Fischer,Richard Startz
Globalization has become a defining feature of the modern world, with countries becoming increasingly interconnected through trade, finance, and technology. This interconnectedness has led to a number of significant impacts on national economies around the world. One of the most noticeable ways in which globalization affects national economies is through increased trade. As barriers to trade have been reduced, goods and services can now flow more easily across borders. This has led to greater specialization in production, as countries focus on producing the goods and services in which they have a comparative advantage. While this can lead to increased efficiency and lower prices for consumers, it can also mean that some industries may struggle to compete on a global scale. Globalization has also had a significant impact on the financial systems of cou...
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