One risk of globalization and interdependence is the potential for economic instability. This occurs when a crisis in one country can quickly spread to other countries and have a ripple effect on the global economy. For example, the 2008 financial crisis originated in the United States but quickly spread to other countries, causing widespread job loss and economic downturn.
One benefit of globalization and interdependence is the ability to access a wide range of goods and services from around the world. This can lead to increased competition, lower prices, and greater choice for consumers. For example, consumers in the United States can easily purchase products made in China or Japan, while businesses can access a global pool of talent and resources to help grow their operations.
11. Name and describe one risk and one benefit of globalization and interdependence. Write in complete sentences.
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