The term "globalisation" refers to the increasing interdependence of the economies, cultures, and inhabitants of different countries as a result of technological advancements, cross-border trade in goods and services, and international flows of capital, people, and information.
More inequality, more corruption, a loss of independence, the loss of cultural identity, and environmental damage are some of the negative impacts of globalization.
Manufacturing expenses go down as a result of globalisation. This means that businesses can charge customers less for their products. One important factor that raises the level of life is the average cost of goods. Also, consumers now have access to a greater range of goods.