Question

The Contemporary World: Globalization. Please define and explain.

1.) Define and explain the economic globalization.

2.) Who are the actors of global economy? Identify the actors of Global Economy.

Thank you very much

Answer 1

Interpreting the question into two

• economic globalisation
• actors of global economy

Economic globalisation

• It is the increased dependency between national economy due to the flow of goods and services, capital, technology between the borders(import and export) in the world.
• How well the integration of countries are in global economy is determined by the economic globalisation.
• This shows the interdependence between countries in the trade and flow of services, goods etc.
• It gives more wealth to the nation by globalisation.

actors of global economy

• International govt organisations,  international non governmental organisations, migrants, are the 3 actors of economic globalisation.
• International govt organisations are those two countries work together with common aim in a faithful manner.
• Non governmental are mainly charitable organisations giving help for developing countries.
• Migrants means movement of people across country sharing technologies and ideas.

hope this helps