Question 13 Marks
What is worldwide interconnectedness? What are its components?
Answer
View full question & answer→The worldwide interconnectedness implies to interlink the world through free flow of goods and services, technology, ideas and people across the globe to extend globalisation.This contains three components:
- Capital Flow: It is the flow of resources through loans or business investments among the countries.
- Trade Flows of Goods: It refers to exchange of goods among countries.
- Labour Flow: It refers to ‘Brain drain’ by creating favourable conditions for employment.