Can someone explain what Globalism is?
In: 4
Well in econ, it refers to how countries are pretty much interconnected and their economies are ingrained in each other; kinda like a codependency
Usually the product we provide for another country is one that costs us less to make and they trade us something that costs less for them to make.
Let’s say like we give Mexico cars, Mexico gives us textiles. Given that it’s better for us to make cars and trade for textiles. Vice versa. Obvi this is a lot more complex when you include other variables, such as labor.
But this in a global scale with many market participants, is globalism
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