Globalization of the world’s economy continues to have positive and negative consequences, depending on one’s perspective. A. Define globalization.

B. Discuss in detail an example of one significant economic impact of globalization in a specific country, and examine how this impact may be viewed positively and negatively.

C. Discuss in detail an example of one cultural impact of globalization in a specific country, and examine how this impact may be viewed positively and negatively.

A. the act or process of globalizing : the state of being globalized especially : the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

B. A example is Vietnam, where globalization has contributed to an increase in the prices for rice, lifting many poor rice farmers out of poverty. This is viewed a positive impact.

C. Cultural globalization has created unparalleled inequity throughout Africa, affected the behavior of people in numerous ways, and forced many people to assume a lifestyle of self interest, selfishness, individualism and made people to develop a psychopathic devotion and appetite for foreign films, foreign goods, foods, foreign way of life, foreign music, attitude and behavior. This is a viewed negatively.

Explanation:

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