Their economy will do better with the oil wealth. however conflict may get worse within the southern part of Russia, since that part is already ethnically diverse and want to get away from Russia <span />

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3 years ago

In your own words, explain the term "globalization" in the context of economics and in the context of culture. What technologies

Usimov [2.4K]

Answer:

As explained below.

Explanation:

Globalization is the process of transformation of people, money, and material from local to the global worldwide level. It's the integration and interaction of business and customers across or beyond borders.

Economic globalization includes the goods, services, technology, and capital and data to the expanding global markets where activities of exchange of goods and services take place.

Currently FDI, export and import and trade blocs all have risen due to technological processes that make the single market economy.

The cultural globalization refers to the transfer of an idea, meanings and moral values around the world in such a way that extends the social relations. Technology has made possible the cross-culture communication and everyone has benefited from it.