Question

What has been the impact of globalisation

Answer 1

Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets. Globalization allows businesses in less industrialized countries to become part of international production networks and supply chains that are the main conduits of trade.

Globalization gives access to the world market to transitional countries. They need to adapt their production capability, their prices, and their product quality to be competitive with the nations of the developed countries. Globalization changed and continues to change China. This country is becoming a major economic player in the global world.

Answer 2

Globalization term used to define the interaction and increasing independence between the nation and people from worldwide.

Explanation:

• Globalization is an interconnected and inter-dependent world with a transfer of capital, goods, and services across other countries.
• The changes in society, culture, and economy led us to a step ahead to get opened to new ideas and stuff in the fields like transportation and technology.
• Increasing trade and connection between countries is considered to be one of the examples of globalization.

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What is globalisation or define globalisation .?

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