What is globalisation ? What are it's features ?
Answers
Answer:
Globalization is trading world wide.
Explanation:
Globalization is the process in which people, ideas and goods spread throughout the world, spurring more interaction and integration between the world's cultures, governments and economies.
Features of globalisation are:
1. Liberalisation:
It stands for the freedom of the entrepreneurs to establish any industry or trade or business venture, within their own countries or abroad.
2. Free trade:stands for free flow of trade relations among all the nations. Each state grants MFN (most favoured nation) status to other states and keeps its business and trade away from excessive and hard regulatory and protective regimes.
3. Globalisation of Economic Activity:
Economic activities are be governed both by the domestic market and also the world market. It stands for the process of integrating the domestic economies with world economy.
4. Liberalisation of Import-Export System:
It stands for liberating the import-export activity and securing a free flow of goods and services across borders.
5. Privatisation:
Keeping the state away from ownership of means of production and distribution and letting the free flow of industrial, trade and economic activity across borders.
6. Increased CollaborationsEncouraging the process of collaborations among the entrepreneurs with a view to secure rapid modernisation, development and technological advancement.
7. Economic Reforms:
Encouraging fiscal and financial reforms with a view to give strength to free world trade, free enterprise, and market forces.
8. Several dimensions of Globalisation:
Increased and Active Social, Economic and Cultural Linkages among the people. Globalisation has social, economic, political cultural and technological dimensions. It involves all round inter-linkages among all the people of the world.
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❤. GLOBALISATION ❤
⭐. Globalisation is the process by which business or other organisations develop internatonal influence. They start operating on an international scale.
❤. FEATURES OF GLOBALISATION ❤
⭐. The goods and services are being produced and sold internationay . The goods and services may be produced in different countries yet they of have the same name.Such companies which have business in many countries is called a Multi National Company.
⭐. The transport and communication between different people in different countried has increased.
⭐. The financial and communication between different people in different countries has increased.
⭐. All this resulted in the birth of MNCś which diverse their production.
⭐. The other reason for Globalisation is international trade and Globalisation in technology. Technology made the communication easy.