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Indirect Approach of studying the concepts, the authors argue that’s, global growth psychology of interrelated aspects of culture, culture and human development all go hand in hand to produce a culture of mutual trust and understanding among individuals, groups, nations, regions and all humankind. This approach is based on research findings, empirical observation, concept study and case research. In the current day international society, globalization continues to be an important factor in every facet of life – education, political economy, culture, finance, industry, social interactions, and business. Thus it is often necessary to know how globalization affects globalization and how globalisation can impact the world economy.

This really is a concept that encompasses the whole globe. As such, it means there are different languages, cultures and countries which are associated with one another due to globalization. It means that people residing in different parts of the planet can meet and discuss info, cultures, customs, languages and ways of existence. This relationship of globalization and cultural interdependence has produced a strong bond of trust and understanding between individuals.

The interdependent relationship is regarded as a result of global commerce. Trade is the discussion of two or more people who sell goods, funds and money for goods, money and services. It is not there is any paperwritings specific product or service that is exchanged.

Worldwide trade has generated interdependence and a feeling of collective actions among people. Since globalization, an awareness of interdependence and interconnectivity has surfaced among individuals due to the fact that people now understand each other by sight and feel when they visit them. The phenomenon of globalization has allowed people to share their thoughts and find out from them and type programs they may not have been able to do so before. This worldwide sharing of ideas and learning has enabled people to build trust and understanding among themselves.

Globalization has also helped people to understand the interrelationship between the world economy and other global factors such as global trade, political stability and political development, economic advancement, and social institutions. Which were a substantial impact on the evolution of the world economy. There are many theories that were formulated that focus on this relationship among different individuals. A number of these concepts include the idea of comparative advantage, social capital theory and the theory of multiple equilibria concept.