the world is gaining when a new factory opens for production of foreign goods. Their income goes up and their lives seem to become a little more stable.The people of the country for whom the goods are being produced will enjoy cheaper prices; hence they will be able to afford more of the product. The business owners will certainly appreciate the events in that; 1 their cost of labor goes down, 2 supply and demand go up, and 3 their wallets get fatter! On the other hand, while the people in the less developed country are enjoying their new jobs, the country from which the jobs came from is experiencing deindustrialization. These people are loosing their jobs not because they were performing them inadequately, but simply because their employer discovered that they could get the job done cheaper in another country
globalization refers to growth of trade and investment, accompanied by the growth in international businesses, and the integration of economies around the world.
easy to recognize in the spread of many brands and services throughout the world