globalization and international trade

Globalization refers to the process of increasing interconnectedness and integration of economies, societies, and cultures across national boundaries. It involves the exchange of goods, services, ideas, and information between countries, leading to the growth of international trade. International trade, on the other hand, refers to the buying and selling of goods and services between different countries, facilitated by the removal of barriers such as tariffs and quotas. Both globalization and international trade promote economic growth, create employment opportunities, and foster cultural exchange among nations.

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