Question

Describe the economic effects of globalization briefly?

Answer 1

Answer:

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Foreign Direct Investment's impact on economic growth has had a positive growth effect in wealthy countries and an increase in trade and FDI, resulting in higher growth rates. ... Furthermore, globalized countries have lower increases in government outlays and taxes, and lower levels of corruption in their governments.

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Answer 2

Explanation:

1. Globalisation has radically increased incomes and economic growth in developing countries like India, Bangladesh, China, etc

2. Globalisation has greatly reduced poverty in many countries

3. Globalisation has helped many countries to compete with other companies. Various companies have been evolved drastically.

4. Globalisation has played an important role in agricultural sector in India.

5. Various countries have been integrated due to globalisation.

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