economic globalisation

S. No- 5

Economic Globalisation

Group Members- Leah and Advay

What is Globalisation?

In Globalisation,

-Businesses develop an international influence -National economies merge through technology -Labour force, investment, trade and capital flow are mitigated

Global Cause

The heightened role of Multinational Corporations (MNCs) and development production in global trade

National Cause

Lowered trade barriers by nations bolsters and encourages economic productivity and well-being

Local Cause

Advancements in technological development on a local scale causes the widespread and rapid transfer of information, which eventually leads to globalisation

Global Consequence

The standard of living is greatly increased and poverty levels are reduced

National Consequence

The spread of technology and innovation to different countries

Local Consequence

Globalisation allows companies to find lower-cost operations or ways to produce their products. Prices are driven down and the variety of choices are increased

Bibliographyhttps://www.thecasecentre.org/products/view?id=19798https://www.ibef.org/pages/13725 https://blogs.imf.org/2016/06/20/how-lowering-trade-barriers-can-revive-global-productivity-and-growth/ https://www.nber.org/digest/mar07/globalization-and-poverty https://www.piie.com/commentary/speeches-papers/globalization-concept-causes-and-consequences https://www.tribuneindia.com/news/comment/easing-trade-barriers-helped-india-prosper-126110

Thank you!