The flow of trade or business among different nations. What is actually happening here is globalization. This means that maybe the silk was prepared in china, assembled in China or Thailand and shipped across the oceans before it reaches your local store. Often, we come across the tag that says ‘Made in China’ or ‘Made in Indonesia’. To understand globalization, take an example of a shirt you own in your wardrobe. Taking a business to expand world-wide and generating revenues from international exposure is what mainly constitutes the globalization here. The process that allows the flow of the business through the nations comes under the era of globalization. In simple words, globalization is a modernized development of the business world. In order to understand the positive and negative effects of globalization, we first need to under what globalization actually is.
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