The globalization has paved way to increasing global trade since 1990. But it was slightly affected by the IT crisis of 2001.
The trade of trade and currencies has increased as result of more dependence on each others economies by the wave of globalization
The effect of globalization ensured through fair and free trade by the hard work of international organizations like The World Trade Organisation.
In higher levels of globalization even production is also being outsourced for staying in the competition Where the right work force is available we can produce the product at the right price and conditions. Due to the new and favourable conditions investors can place the investment at the right place.
Increased wealth through out the world is due to the increase in trade by way of globalization and in due time language and technology spread across the world. The social distortion was a major defect of global village because the advantages are not equally shared between the countries. Many developing countries are showing growth but is nothing when compared with the growth of developed countries.
The current financial crisis from USA spread all over the world shows how countries are interdependent. It is same as influencing one country by another. The politicians of small countries are influenced by the strong MNC companies as they get too much power to do so.464