Importance of Globalization and Import and Export in Globalization

Question:-

Explain the importance of globalization and import and export in globalization.

Answer:-

As globalization introduced and import and export became easy, people have started using imported products in their offices as well as in the household. There are various examples of household products that are nowadays being imported such as apparel, footwear, furniture, kitchen and household appliances, mobile phone, and computers.

Mobile phones and computers are the two imported products that are being used by people on daily basis. Even though the domestically made product can also fulfill the need of people but in terms of features and quality, imported products are better than domestically made products. Imported products create a sense of status in the mind of people and hence people focus on imported products rather than acquiring or purchasing a product that is made domestically.

Apart from products, there are various services that are imported and widely being used by people. Cloud service that is used by people to store data as well as protect from the data breach, to maintain privacy, to ensure smooth functioning of the system and many more is an example of imported service. Thus, in the era of technological advancement, it has been easy to use a product or service that is made in other countries.