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Classifications
Classifications
France is classified as a developed country that is characterized by its advanced economy, technology, and high living standards.
Major Imports and Exports
Major Imports and Exports
Imports: Mineral Fuels, Machinery, Vehicles, Electrical Equipment, Pharmaceuticals
Exports: Aircraft, Pharmaceuticals, Vehicles, Food Products, Turbines, Beauty Products, and Telephones
Globalization Affects
Globalization Affects
Primary Factors: Economic integration, Multinational corporations, Information and Communication Technology, Cultural exchange, Migration and Mobility
Globalization in France has allowed for expansion in market access which is allowing them to export goods and services to international markets. This has been a stimulant for economic growth, increased productivity, and created employment. It has also facilitated the exchange of knowledge, technology, research, and innovations across borders. It has also allowed for educational exchange programs, student mobility, and international collaboration in research.
On the contrary, Globalization has negatively affected France by the outsourcing of manufacturing jobs to countries with lower labor costs, resulting in job displacement. It has also added pressure on agriculture and small-scale manufacturing which have faced increased competition from global markets. Lastly, it has also contributed to degrading of the environment through increased consumption, resource extraction and pollution.
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