Globalization affects economic interdependence from "summary" of The Making of Economic Society by Robert L. Heilbroner,William Milberg
Globalization, as the term implies, involves the integration of economies on a global scale. This interconnectedness has far-reaching implications, particularly in terms of economic interdependence. When countries engage in trade across borders, they become reliant on each other for goods and services. This reliance creates a web of economic relationships that link nations together in a complex network.
The process of globalization has accelerated in recent decades, fueled by advances in technology and communication. This increased interconnectedness has led to a deepening of economic interdependence among countries. For example, a disruption in the supply chain in one country can have ripple effects across the globe, impacting economies far beyond the initial point of disruption.
Furthermore, globalization has ...
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