Question

must be 900 words. paragraph form and no word for word from google

Discuss the relationship between globalization and development.

Answer 1

Globalisation has a positive impact on development of economies.

Globalisation is the process of economic integration among nations.The official meaning of globalization for the WTO is movement of economies of the world towards unrestricted cross border movements of goods and services, capital and the labour force. Globalization touched all spheres of life such as economy,education, technology, cultural phenomenon,social aspects etc. The term global village is frequently used to highlight the significance of globalization. This term signifies that revolution in electronic communication would unite the world.

As a result of globalisation physical boundaries and political boundaries remained no barriers for business enterprise. Globalization involves greater interaction and interdependence among various nations of global economy.

Globalization has drastically, improved the access to technology. Internet facilities has enabled to gain access to knowledge and services from around the world. Tariff barriers have been removed which has resulted in the growth of trade among nations. Globalization has resulted in increase in the production of a variety of goods.Globalization has encouraged free flow of capital which has improved the economy to some extent. It has increased capital formation.

Globalization has positively influenced development of the economies.