Question

In: Economics

What key factors make globalization today fundamentally different from what occurred in the past?

What key factors make globalization today fundamentally different from what occurred in the past? What key factors make globalization today fundamentally different from what occurred in the past?

Solutions

Expert Solution

Globalisation refers to integration and interaction of the different countries,different people. It connects people from various countries.

There are many key factors which make globalization today fundamentally different from what occurred in the past these are-

  1. Advancement of technology
  2. Political factors
  3. Economies of scale
  4. Different tax systems
  5. Less restrictions on imports and exports or trade barriers
  6. Growth strategies of Multi National Companies
  7. Internet growth
  8. Trade development

Conclusion - Over the last 5-10 years the globalisation has increased at an higher rate this is beacuse of technological changes, legal changes and political changes.


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