Globalization: Impacts on Developed and Developing Nations
Classified in Geography
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Defining Developed and Developing Countries
Developed countries experience relatively high economic growth and security, often measured by GDP and industrialization. Examples include the United States, Canada, Japan, and most European nations.
Developing countries lack the same level of economic growth and security. Many African, Asian, and South American countries fall into this category.
Globalization and its Effects
Globalization connects countries, facilitates cultural exchange, enables global production, and expands job opportunities. It involves the free transfer of capital, goods, and services across borders.
Advantages of Globalization
- Spreads technology
- Increases corporate profitability
- Promotes cultural exchange
- Expands markets for goods