Different Dimensions Of Economic Globalization

Globalization
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In the past, national governments influenced the pace of globalization through agreements to lower barriers to international trade and investment. Is rapid change now outpacing the capability of governments to manage the global economy?
It is not all people and countries, which have benefited from globalization, but the countries with lower costs of production and a thriving manufacturing industry have experienced growth as western companies shifted operations there. Companies that trade internationally have also benefited as there are fewer barriers to trade, but the share volume of transactions and accelerating pace of globalization has made governments less powerful in managing the global economy (Marshall & Fisher, 2015). The global economy is integrated more than ever before, but the rapid changes make it more difficult for the governments to manage the global economy.
The removal of trade and investment barriers and technological innovation has enhanced globalization and international trade, while governments have less influence on the global economy. Integration of the global trade and business has increased international trade flows, and economies have had to adapt to economic changes (Steenkamp, 2019). Technology advancement has made it easier to communicate and has...