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Globalization is the distribution of products, technology, information, and employment opportunities across borders and cultures (Fernando, 2021). The integration of national economies into a global economic system has been one of the most significant developments that has reshaped the world over the last century. According to researchers, globalisation it is a key factor for economic development, while others blame it for current environmental pollution. However,this system enables national economies around the world to expand across borders and form mutually beneficial relationships. In the 1990s, advancements in information technologies significantly reduced the cost of communication within and across borders. The development of shipping, containerization, and an increase in trade agreements have resulted in a significant reductions in tradecostsbetweencountries. Due to decreased trade and communication costs, many companies began to outsourcedparts of their manufacturing operations to countries with the cheapest labour resources and better access to raw materials to create their products. The activities involved in the creation of a product are referred to as global productions, and global production has evolved to include a diverse range of business arrangements and organizational structures (Fernando, 2021). The aim of this paper is to determine how global production distributes value in the global economy, and how this affects our understanding of international economic exchanges.

Globalization makes it easier than ever to allow businesses to conduct cross-border transactions while also expanding their customer base. The process of exchanging goods or services between countries or people are often knowns as the international economic exchanges. It enables wealthy countries to more efficiently touch on resources, such as labour, technology, or capital. Different countries have different assets and natural resources, such as land, labour, capital, and technology and these assets enablesthem to producegoodsin a more efficientand at a cost effective manner.

Globalization enables organizations to gain market advantages by selling a product globally, establishing retail and manufacturing operations in various countries, and investing in raw materials, resulting in higher profits than ever before and as a result, higher economic growth. Apple, for example, relocated a fraction of its manufacturing operations to China to reduce operating costs and improving people's lives by outsourcing services to less developing countries resulting in a decreased percentage of global poverty (Luxebeat, 2018). As a result, we now live in a much less impoverished world.

Although globalization provides many organizations with opportunities for economic growth, it also causes issues for less-developed countries. As businesses expand globally and relocate manufacturing operations to less-developed countries to benefit from lower business costs, the well-being of workers, economies, and the environment is frequently jeopardized (Lumen Learning, n.d.).

Globalizationboosts economic growth for most countries. It provides countries to have wider access to labour pool. A developing country with a scarcity of skilled workers may outsource labour pool to invest in the industry in the hope that the country will improve over time. Industrialized nations, on the other hand, may outsource their labour pool to less developed countries with lower cost of living in order to produce goods more efficiently and cost effectively. Developing countries received job opportunities that were previously outsourced by industrialized countries. This opportunity reduces the unemployment rate, which has the potential to have a significant impact on the local economy (Stobierski, 2021).

Today, the majority of the world is underdeveloped. Globalisation allows countries to reduce border limitations and open up more products and services, allowing more people to raise their standard of living. Thus, with a higher standard of living, maternal and infant mortality rates will increase too.

The world's major primary currencies are the US dollar, the Euro, and the pound sterling. Many countries today manipulate their currencies in order to benefit their economic structure. Globalization would reduce efforts to instil weakness or strength in these currencies in order to influence local markets, and it would work toward a society in which economic growth occurs on a global scale rather than just in local economies(Gaille, 2018).

Many organizations in industrialized countries have relocated their manufacturing operations and services to developing and less developed countries. Although this benefits developing-country economies, but local workers are exposed to extreme labour exploitation. Even though the International Labour Organization establishes international labour standards, it is difficult to implement these rules on a global scale, and often these organizations have been able to exploit their employees because they are easily replaced by workers that are willing to do the same amount of work for less earnings.(Omnipresent Team, 2021).

Despite of the positive impacts of globalisation on industrialized countries, people in industrialized countries are frequently threatened with job loss. As mentioned previously, organizations in industrialized countries outsourced their productions to countries with the cheapest labour resources, causing many locals in industrialized countries to lost their jobs or receiving pay cuts.

Globalization allows countries to become more interconnected, allowing people and organizations from different countries to coexist more effectively than ever before. Due to globalisation, people are able to exchange goods and services more quickly and efficiently. In the globalization market, global production undoubtedly distributes value in the global economy in a variety of ways. However, globalization is a dynamic and a complex process with both positive and negative consequences. There are also numerous obstacles to overcome before it can be considered a viable solution. Persecution of failing and impoverished economies by stronger economies; "the rich get richer, the poor get poorer," it depicts a world with fewer opportunities for workers and families in less developed countries. Ultimately, the main objective of globalisation, is to ensure that countries and independent financial actorshave equal opportunities to succeed.