Question
Explain any four economic consequences of globalisation.
✓
Answer
The economic consequences of globalisation:
- Globalisation has led to similar economic policies adopted by governments in different parts of the world that has generated vastly different outcomes in different parts of the world.
- It has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries has also been reduced.
- of internet Globalisation has led to the flow of ideas across national boundaries; spreadand computer related services is an example.
- Economic globalisation has created an intense division of opinion all over the world. Socialist concern is likely to benefit only a small section impoverishing jobless people.populationof while
- Globalisation generates greater economic growth and well being for larger sections of the population when there is deregulation. Greater trade among countries allows each economy to do what it does best.
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