Wednesday, April 29, 2015

Impacts of Globalization

Economic Impacts:
1: If the USA starts exploring their petroleum resources the price of the barrel lowers in other countries.
2: If a foreign bank comes to a country, it helps that country's economy with new policies and more money to borrow.
3: If a clothing brand for example Abercrombie comes to Colombia, generates employment and buys national products.

Cultural Impacts:
1: If new foreign companies come to a different country, each one would need to learn about the others culture.
2: Technology provides everyone with information such as culture, education and more important things in different areas.
3: Food exports make other countries learn what that country produces and makes a mix on both gastronomies. For example Chaufa rice in Peru, a mix with the Chinese.