Globalization

Globalization

1. Process of international integration among people, companies and government. by this process the world is becoming more interconnected. it has increased the production of goods and services

   • Latin America
     • Advantages
       • Creates open and international economies->among countries that are connected
       • Consumers-wider variety
       • Product has more competitive prices
       • Companies have access to wider markets
       • Agricultural products start competing with foreign companies
       • Internet has been very implemented, increases access to information and knowledge
       • it helps Colombia to become a greater power in the world
       • it helps Colombia to have a huge growth in economy
     • Disadvantages
       • Growth is not the same in every country
       • Developed countries can stifle development of undeveloped and under-developed countries.
       • Companies face greater competition
       • Creates unequal market because Latin American countries do not produce leading technology
       • Governments privatized important sectors of economy
       • it damages the environment, importing things from one place to another contaminates
       • it can ruin local economies
       • it proposes big challenges to Colombia
       • In Colombia there are changes in urban morphology