globalisation merits and demerits

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Economics

Index

Contents page no.

Introduction 1

Advantages of globalisation 2-3

Disadvantages of globalisation 3-4

Effects of Globalization on Indian Industry 5

Conclusion 6

webliography 7

Introduction

Globalization or (globalisation) is the process by which the people of the world are unified into a single society and function together. Globalization is often used to refer to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. This process is usually recognized as being driven by a combination of economic, technological, socio-cultural, political and biological factors. The term can also refer to the transnational dissemination of ideas, languages, or popular culture.

Globalization means increasing the interdependence, connectivity and integration on a global level with respect to the social, cultural, political, technological, economic and ecological levels.

Effects of globalization:-

* enhancement in the information flow between geographically remote locations

* the global common market has a freedom of exchange of goods and capital

* there is a broad access to a range of goods for consumers and companies

* worldwide