Global Economy

• Economy refers to the process of exchange of goods and services in a society.
• Global Economy is a single, interconnected system of trade and finance.
• Silk Road is comprised of different routes from India - Egypt - Greece - China.
• Spice Route helped spread of Islam and Buddhism together with spices.
• Age of Discovery is when sailing became a thing.
• First Wave of Globalization is when the Great Britain dominated the economy which caused the 1st Industrial Revolution.
• Economic Globalization refers to the increasing interdependence of world economies as a result of cross-border trade.