Readers Question: Evaluate the significance of the factors which have contributed to globalisation. You may use diagrams if you wish.
Globalization is not a new phenomena. The world economy has become increasingly interdependent for a long time. I have previously written various factors that have helped explained the rise in globalization hereĀ
In evaluation I would make the following points.
- It is hard to precisely define globalisation there are different interpretations about what we actually mean, therefore, there are differing factors that explain it.
- Improved technology is undoubtedly very influential in helping globalisation; without technologies such as the internet and global communication it would not have been possible to witness the increased interdependence of coompanies and countries.
- Increased free trade is important. However, there are various trade barriers still in existence and this has not stopped the growth of globalisation.
- Could there be a backlash against globalisation as people look for local alternatives to multinational products? I think this is unlikely as people prefer the security of buying established brand names.
Diagrams for Globalisation
I would draw a diagram for trade creation, showing how the removal of trade barriers increases exports and imports. Also economies of scale are very important for encouraging increased specialisation of global production.

0 comments ↓
There are no comments yet...You are welcome to leave a comment in the form below.
Leave a Comment