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Globalization has profoundly impacted economies worldwide by promoting interconnectedness modelworksdirect.com and facilitating the flow of goods, services, and capital across borders. While globalization has led to increased economic growth, job creation, and technological innovation, it has also contributed to income inequality, job displacement, and environmental degradation. Developing countries have experienced both opportunities and challenges as they integrate into the global economy, with some experiencing rapid economic growth while others face exploitation and resource depletion.