Respond as a peer and ask a question

Globalization has become increasingly important for a nation's economic growth and involvement in the world stage. Carbaugh (2023) defined globalization as the progress of each country and its people in gaining independence alongside other countries and promoting cooperation with those countries. This includes their influence and standing in the global market and the country's imported vs. exported goods.

One country that I would love to relocate to as a second home country would be the Czechia. First, this country has a very stable economy with little debt and a balanced import to export ratio. The Observatory of Economic Complexity (OEC) (2023) Economic Complexity Index, which measures the capabilities of a nation's ability to import and export products, listed Czechia as the 7^th most complex economy out of 133 other nations. Second, the country's economic growth has been steadily improving over the years. Krpec and Hodulak (2019) argued that this improvement is linked to the country's integration into the European Union (EU). This integration allowed for Czechia to gain access to the defined economic core of the EU and promoted the movement of goods across its boarders. Lastly, Czechia exports multiple goods, namely manufacturing goods such as cars and motor vehicle parts, leading to sustained economic performance and innovation. However, Zhao, Pal, Mahalik and Gozgor (2024) stated that manufacturing and innovation can improve economic growth and eventually turn trade resources into capital.

Based on the economic growth in recent years and current economic standing, I expect that this country will become richer in the next ten years. Czechia has a steady employment rate and is continuing to remain competitive in the global market. It has minimal debt and it continues to remain innovative. Moving to Czechia would be a sound decision.