Political Science ch - 1 Post World War Political Developments — Social Studies STD 9 — Question

(i) After the end of the Cold War, trade and economic relations between countries became more open. As it has been mentioned before, capital, labour, markets and information began circulating globally.

(ii) The give and take of ideas among people all over the world grew.

(iii) Due to the revolution in information technology, different events and developments began to be known everywhere.

(iv) The boundaries between nations did not remain as sacrosanct as they were before. All these processes are together called globalisation.

(v) Just as globalisation has brought us benefits, it has also caused losses. For example, as the economies of different countries got linked with each other, trade increased, economic unification grew, plenty of products became available in the markets; but (at the same time) the gap between the poor and rich nations did not reduce.