4. National industries (homegrown or home developed) have greater access to foreign markets.
With rampant globalization it is a window of opportunity for companies, and may be a window that never closes. The businesses increase their market shares, growth sales, and profits; they can further expand and create jobs and hire more labor in their home country.
5. A greater interconnection among diverse national economies
This can be good and bad. It is good when there is the free exchange of capital and goods and services. All can benefit from this free-flow of monies, products and services. Consumers and businesses have more choice of goods, and such, and can access products never before available to them from other countries. However, the bad can result when serious troubles in one economy spread like wildfire to other the economies associated with it. An example of this is the Greek contagion (economically-speaking) which reared its head a few years back and looks set to cause some turmoil on the markets again.
Globalization is a reality that has been a game-changer for economies, businesses, cultures, and the geopolitical aspect of civilization.