Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.
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Answers
Globalisation will continue in the future. Twenty years from now, the world will be more globally connected and integrated into one international economy, if this process continues on a fair and equitable basis. Trade and capital flows will increase alongside the mobility of labour.
The entire world would become a global village twenty years right from now.
The reasons are mentioned below:
(i)MNCs would produce goods and services in those locations around the world which would be cheaper for their production.
(ii)Foreign investment by MNCs would increase comparitively. Foreign trade between countries would also rise.
(iii) A large part of the foreign trade would be controlled by MNCs.
(iv) More and more goods and services, investment and technology would shuffle between countries.
(v)There would be greater integration of production and markets across countries due to greater foreign investment and foreign trade.
Explanation:
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