Question

Write a article on globalisation a boon or a bain.give me quick answer. please ​

Answer 1

Explanation:

Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. Globalization has accelerated since the 19th century due to advances in transportation and communication technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas and culture. Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, conflicts and diplomacy are also large parts of the history of globalization, and of modern globalization.

Economically, globalization involves goods, services, data, technology, and the economic resources of capital.[1] The expansion of global markets liberalizes the economic activities of the exchange of goods and funds. Removal of cross-border trade barriers has made the formation of global markets more feasible.Advances in transportation, like the steam locomotive, steamship, jet engine, and container ships, and developments in telecommunication infrastructure, like the telegraph, Internet, and mobile phones, have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe.

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Answer 2

Answer:

The paper clearly states that globalization is indeed a boon for developing countries. Globalization helps in foreign trade, attract foreign investment, international migration etc. The countries need to open up their economy in order to use the opportunity for the development of the economy.Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less moneyThe growth in cross-border economic activities takes five principal forms: (1) international trade; (2) foreign direct investment; (3) capital market flows; (4) migration (movement of labor); and (5) diffusion of technology (Stiglitz, 2003).