Question

Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer

Answer 1

Solution:

Twenty years down the line the world would undergo a positive change which will possess the following features— healthy competition, improved production efficiency, increased volume of output, income, and employment, better living standards, greater availability of information and modern technology.

These are the favorable factors for globalisation :

• Availability of human resources both quantity wise and quality wise will increase.

• Broad resource and industrial base of major countries.

• Growing entrepreneurship.

• Growing domestic market.

• Expanding internal markets

• Economic liberalisations.

• Growing competition.