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Globalization and the Domestic Economy. Nichole Benson Miranda Campbell- Magaña Charlie Gipson Murtaza Sharifi. Globalization Defined. T he process of interaction and integration among the people, companies, and governments of different nations D riven by international trade and investment

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Globalization and the domestic economy

Globalization and the Domestic Economy

Nichole Benson

Miranda Campbell-Magaña

Charlie Gipson

MurtazaSharifi


Globalization defined
Globalization Defined

  • The process of interaction and integration among the people, companies, and governments of different nations

  • Driven by international trade and investment

  • Aided by information technology


Gregory mankiw
Gregory Mankiw

GDP: the market value of all officially recognized final goods and services produced within a country in a given period of time

Globalization causes higher economic growth which will rise GDP, in a normal sample

Mahbubul Hag(left)

AmartyaSen(right)


Human development index
Human Development Index

  • A composite statistic of life expectancy, education, and income used to rank countries into four tiers of human development


Positive effects
Positive Effects

  • Increase in access to international markets

  • Domestic producers produce more efficiently

  • Wide variety of goods at lower prices

  • Comparative advantage leads to specialization and economic productivity


Negative effects
Negative Effects

  • Detrimental to Small Businesses

  • Labor Costs

  • Marginalization of Lower Skilled Workers

  • Overuse of Natural Resources



Globalization in domestic economic recovery
Globalization in Domestic Economic Recovery

  • Interconnectedness

  • Negative and Positive Effects in Process

  • GDP Growth



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