explain any three factors that have speed of the globalisation in the recent times
Answers
the factors that have enabled globalisation
are as given below:
1. Technology : in the past 50 years,
several improvements in technology
have taken place. For example, in
transportation technology, containers
are used for the transportation of
goods. This has led to huge reduction in
cost and increase in speed in reaching
the markets.
2. Information Technology :
Telecommunication facilities - telegraph,
mobile phones, fax - are used to contact
one another around the world and to
comunicate from remote
areas. Internet enables us to send
instant electronic mail and talk across
the world at negligible costs. Now a
news magazine published for London
readers can be designed and printed in
Delhi.
3. Liberalisation of foreign trade and
foreign investment policy: removing
barriers or restrictions set by the govt.
is liberalisation. Under liberalisation
goods can be exported and imported
easily. Foreign companies are allowed t
set up factories and offices in other
countries. thus liberalisation has
enabled MNCs to increase their
investments in other countries like India.
As a result of greater foreign investment
and greater foreign trade, there is
greater integration of production and
markets across countries. Globalisation
is this process of rapid integration or
interconnection between countries.
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