Question

Identify the factors that facilitate economic globalization

Answer 1

Explanation:

Factors That Have Contributed to Globalisation:-

Containerisation.

Technological change.

Economies of scale.

Differences in tax systems.

Less protectionism.

Growth Strategies of Transnational.

and Multinational Companies.

Answer 2

Answer:

The factors that facilitate economic globalization include the growth of communication and transportation infrastructure, trade liberalization, and advancements in technology.

Explanation:

Economic globalization refers to the process of integration and interdependence of national economies in a global marketplace. It involves the removal of trade barriers, increased cross-border investments, and the growth of multinational corporations. Several factors have contributed to the growth of economic globalization in recent years.

One of the major factors is the growth of communication and transportation infrastructure. This has allowed countries to communicate and exchange goods and services more easily, thereby opening up new markets and opportunities for businesses. In addition, the reduction of trade barriers through trade liberalization has increased the number of countries participating in international trade, which has led to the integration of markets.

Advancements in technology have also played a significant role in facilitating economic globalization. The internet, for example, has made it easier for companies to connect with their customers and suppliers in different parts of the world. Additionally, technological advancements have led to increased productivity, lower costs, and improved supply chain management.

Lastly, foreign direct investment (FDI) has contributed to economic globalization. Multinational corporations have invested heavily in other countries, thereby promoting international trade and technology transfer. FDI has also contributed to economic growth, job creation, and the development of infrastructure in many countries.

In conclusion, several factors have facilitated economic globalization, including trade liberalization, growth of communication and transportation infrastructure, advancements in technology, and foreign direct investment. These factors have played a significant role in shaping the global economy and promoting economic growth in different parts of the world.

Keywords: economic globalization, communication and transportation infrastructure, trade liberalization, foreign direct investment, trade barriers.

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