Income Inequality

Globalization is a new phenomenon that describes how nations can relate to one another. By definition, globalization is the increasing interconnection of populations, cultures, and economies across the world. It occurs through the movement of goods and services, technology, ideas, and information across national borders. Globalization provides access to new cultures. It also facilitates the spread of innovation and technology. Furthermore, globalization provides access to new markets and talent. Although globalization has facilitated free trade and made countries more interdependent, it has promoted income inequality among racial minority groups.