Question

What are the factors that enabled globalisation ?

Answer 1

The factors that allow for global trade are given below are:

• The rapid development of technology has been a key factor in promoting the globalization process.
• This has made delivery faster for long distances at a lower cost.
• Advances in information and communication technology have made information more readily available.

Technology:

• In the last 50 years, there have been several advances in technology.

Information Technology:

• Communication services - telegraph, cell phones, and fax - are used for communication.

Foreign trade liberalization and foreign investment policy:

• Removing barriers or restrictions imposed by government.

Answer 2

The factors that enabled globalization are as follows:

1. Differences in Tax systems: Earlier the businesses desired to benefit from the small businesses. The factors abroad have encouraged countries to adjust their tax systems to attract FDI.
2. Technology: The rapid development and advancement in technology have a major contribution to the globalization stimulation.
3. Trade Barrier: There was a trade restriction earlier on imports and exports of the goods.
4. Liberalization: The removal of barriers and restrictions on trade by the government is known as liberalization. With liberalization the decisions can be made freely on import and export.