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Trade deficits, where imports are higher than exports, can help boost exports of many countries, both developing and developed, and strengthen their economy, especially in the post-depression times. As quoted from Wikipedia, "Globalization describes the process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology". With higher amounts of imports, more countries around the world are able to trade and create a more extensive trade network.
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What are some globalization questions?
what is globalization? what are advantages and disadvantages of globalization? what is free trade
Is globalization driven by trade?
Depending on the category of globalization, yes and no. For the economic definition of globalization, yes it is based on trade. However, for the historical context of globalization, it is based on culture.
Why are budget deficits and trade deficits sometimes called the twin deficits?
Twin deficits or double deficits is a summary of the two related economic problems, the budget deficit and the international trade deficit. The budget government deficit is the difference between government revenue and it's spending. Both deficits occur when someone is spending more than they earn.
Is fair trade an example of globalization?
Globiliza can increase the risk of a pandemic because it
What is the effect of globalization to international trade?
the effect globalization is the thinning of our ozoned layer
What is the globalization of market?
The benefits derived while doing trade worldwidely.
How did globalization contributed in the interaction and changes in the culture on the global level?
globalization affected trade and culture
What are the key principles and concepts that open-economy macroeconomics deals with?
Open-economy macroeconomics deals with principles and concepts related to international trade, exchange rates, capital flows, and how these factors impact a country's economy. Key principles include balance of payments, trade deficits, currency valuation, and the effects of globalization on economic policies.
As a result of the rising price of imported oil in the 1970s?
trade deficits grew
What is a benefit of trade between two countries?
globalization
What does Globalization and trade liberalization do to markets?
it is really crud
Asses the importance of trade lives on globalisation?
Asses the importance of trade liberalization on globalization
