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| 1. |
Which factors contributed to globalisation |
| Answer» Globalization is a process of international integration in the field of economic,finance,trade and communication.It lifted the barriers among nations and paved the way for increased interconnectedness and interdependence of people and countries.The following are some of the factors that have given rise to globalization:1.Development of new and advanced technology,rise of satellite connections,internet and web services etc have provided a base for globalisation.2.The free flow of trade without any restrictions among nations have made business more easier and attractive.Trade transactions among nations have become cheaper providing opportunities for outside markets to establish base in a developing nation.3.Removal of capital exchange control has made money transactions easier among nations.As a result,a developed nation can easily enter the market of a developing nation in search of better business returns.4.Changes in the tastes of consumers and their craze to buy foreign goods have opened the path for globalization to occur. | |