Answer:
Globalization allows a greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. This will allow for creation of jobs and better wages to the host citizens. Globalization have a positive effect on economic growth which contributes to decreasing poverty, as a results this contribute to improved society with less income inequality. Furthermore it can lead to more access to capital flows, technology, human capital, cheaper imports and larger export markets; all of these have a good effect on the country's income inequality, jobs and wages.
Globalization allows business in less industrialized countries to become part of the international production networks giving positive outcome in sovereignty. Globalization play an important role in bringing people of different cultures together. Lastly, it trigger environmentally friendly technological innovations that can be transferred from countries with strict environmental regulations to pollution ports.
Explanation:
Globalization has led to faster access to technology improved communication and innovation. It does not just involve movement of manufactured goods, but also transfer of intermediate, capital goods and technologies.
