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Effects of Globalization
ALEXIE VERA P. MAGAWAY
Brief Recap
Global Market
Itmeans encouraging nations to specialize
and produce plenty of goods available in
their local market. Different countries
produce different products and what is most
surprising there is no country which is self-
sufficient.
Some countries with developed economies
don’t have enough raw materials for their
factories, while the rest accumulate costs more
than it should. Worldwide integration has led
the way to cheap raw materials.
Developed countries advertise for the low-
income community to buy their products with
compatible prices.
They have also expanded by acquiring
companies in developing countries, partnering
and merging with others to reach out to a big
market and produce cheaper goods due to
the availability of materials and labor.
Availability of cross-border market encourages
companies from developed countries to create
various goods because they have consumers
worldwide.
Cross-Cultural Management
Terrorism
It is a significant problem in most developed
countries. Due to worldwide integration,
people travel a lot.
Lots of terrorists came to a foreign country
with a worker visa having a hidden goal to
perform a terrorist attack.
Job Insecurity