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Globalization has reshaped international economics from "summary" of International Economics by Robert Carbaugh
Globalization has had a profound impact on international economics, transforming the way countries conduct business and interact with one another. The increased interconnectedness of economies around the world has led to a surge in global trade and investment, as barriers to the movement of goods, services, and capital have been reduced. This has allowed businesses to expand their reach beyond domestic markets and tap into new opportunities on a global scale. Furthermore, globalization has facilitated the integration of production processes across borders, leading to the rise of global value chains. Companies now have the ability to source inputs and components from different countries, taking advantage of cost efficiencies and specialization. This has resulted in the creation of a more interconnected and interdependent global economy, where the fortunes of one country are closely tied to those of others. The sp...
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