Answer:
Three Characteristics of Globalization:
1. transnational corporations
2. outsourcing of labor
3. foreign investing
Explanation:
Globalization is the integration of national economies and socio-cultural relationships through cross-border economic activities, technology and communication, migration, and social relationships.
Globalization encourages the growth of interdependence of the world's economies, cultures, and populations, as a result of cross-border trade in goods and services, technology, and flows of investment, people, and information.
Stiglitz (2003) stressed that "the growth in cross-border economic activities takes five principal forms: (1) international trade; (2) foreign direct investment; (3) capital market flows; (4) migration (movement of labor); and (5) diffusion of technology."
There are some advantages (development of global markets, introduction of more efficient technologies, outsourcing of jobs, etc.) and disadvantages (consumerism, loss of domestic jobs, competitiveness, etc.) from globalization, depending on individual viewpoints.
