One effect of globalization is the increased interconnectedness and interdependence among countries, as trade, investment, and information flow more freely across borders. This has led to the growth of multinational corporations and the global spread of cultural ideas and practices. Another effect is the widening income gap between the rich and the poor, as globalization has resulted in the relocation of production to low-wage countries, leading to job losses and wage stagnation in developed nations, while creating opportunities and economic growth in developing countries.
