Answer :

The rapid globalization of economic crises in the 20th and 21st centuries is a significant issue brought on by globalization.

The globe is now more or less a global village, therefore issues in one nation now have a greater chance of affecting the entire world. In the 20th and 21st centuries, the availability of highly skilled laborers at low cost has accelerated globalization because multinational corporations find it advantageous to hire workers at the lowest cost, and individuals with skills and education in less developed nations seek employment that will pay them more.

A bigger proportion of trade in merchant production, an increase in trade in services, and a rise in production and trade by multinational corporations are all indicators of the 20th century's global commerce. Compared to the 19th century, the output of merchant goods significantly declined in the 20th century.

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