Globalization can be taken in a number of ways. Such as, the underlying issue of American companies growing due to globalization. Also, there is some degree of diversification that can be had though purchase of foreign securities. To what degree would be dependent on what securities were purchased, yes? A Taiwan semiconductor company could be tied closely to our tech market but a Brazilian construction company wouldn’t necessarily be so closely tied. Of course the easy play would be the Country ETF as a basket. This would more closely tie to our markets as contagion often occurs.

Some countries are more risky than others and their equities will be more volatile but offer more potential. There is far more potential in China than Germany, but Germany is more stable. So risk and reward are once again at issue and the choice is how much risk do you want to take?