Published on March 18, 2009
Features of Globalisation
Features of globalisation • The key indicators of integration between economies include: • International trade ﬂows • International ﬁnancial ﬂows • International investment ﬂows and transfers of technology
International trade ﬂows • Trade in goods and services throughout the world has grown very rapidly in recent years • Annual growth in the value of trade has been consistently around twice the level of world economic growth
Growth of World Trade and World Output Global Trade World Output 14 12 10 % increase 8 6 4 2 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Year
International trade ﬂows • Much of this rapid increase in international trade ﬂows can be attributed to the inﬂuence of TNCs (Transnational Corporations) • TNCs are global companies which dominate global product and factor markets • TNCs often structure production so that different stages of the production process occur in different parts of the world depending upon costs
International trade ﬂows • The increase in world trade has also resulted from trade agreements such as: • The General Agreement on Tarrifs and Trade (GATT) 1993 • The World Trade Organisation (WTO) • The North American Free Trade Agreement (NAFTA) • Asia-Paciﬁc Economic Cooperation (APEC) • The European Union (EU)
The features of globalization may be discussed as follows: 1. It means free access to the markets in the world without any physical (quota) or fiscal ...
What are the main features of globalisation? The Programme for Workers Activities at the ILO's Turin International Training Centre places particular ...
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Best Answer: Key features of globalisation • Rapid expansion of international trade • Internationalisation of products and services by large ...
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Globalization (or globalisation) ... The migration and movement of people can also be highlighted as a prominent feature of the globalization process.
MODULE #4 Features: FINANCIAL FLOWS • Rapid integration of financial markets is the most dramatic element of globalization over the past two decades.
Globalization101: What Is Globalization?