What is the consequence of globalization for national economies?
A)They are able to specialize in the production of a smaller range of products.
B)Their commercial wealth can be much more efficiently taxed.
C)They lose all distinctive regional variation.
D)They are much more vulnerable to worldwide economic panics.

Question

Quizplus · Accepted Answer

Globalization increases interdependence among national economies, making them more vulnerable to worldwide economic panics. As economies become more connected, shocks in one part of the world quickly spread across borders, affecting national economies globally. This was evident during the 2008 financial crisis, which started in the United States but quickly spread to other countries, causing a global recession.

What Is the Consequence of Globalization for National Economies