how globalisation effect national economy
Answers
Answer:
it effects national economy by
- New technology
- stiff competition for domestic producers
- consumer s have choice in new good s with different types, design s
Answer:
The globalisation provides the free movement of trade and investment, labour and assets. ... Economic growth through Globalisation has both positive and negative impacts on the society. One of the main benefits of economic growth is the higher incomes per capita and higher living standards due to an increase in output. Some of the benefits of globalization include: Foreign Direct Investment: Foreign direct investment (FDI) tends to increase at a much greater rate than the growth in world trade, helping boost technology transfer, industrial restructuring, and the growth of global companies. For many developing nations, globalization has led to an improvement in standard of living through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations. However, globalization has had a negative effect on individuals who live in developed nations. Globalization helps developing countries to deal with rest of the world increase their economic growth, solving the poverty problems in their country. ... The developed countries were able to invest in the developing nations, creating job opportunities for the poor people. Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.