as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain how globalization affects local cultures.
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globalization has had both positive and negative effects on local cultures. on the one hand, it has increased access to different cultural experiences and resources due to increased international travel and trade. on the other hand, it has led to a homogenization of certain cultural practices that originated in certain regions, and it has caused displacement of traditional cultural practices in favor of global consumer cultures.
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