Globalisation

GLOBALISATION

• Foreign investment by MNCs in various countries has been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs.
• The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries.

MEANING AND CONCEPT

• Globalization is this process of rapid integration or interconnection between countries.
• MNCs are playing a major role in the globalization process. More and more goods and services, investments and technology are moving between countries.
• Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected. This is through the movement of people between countries.
• People usually move from one country to another in search of better income, better jobs, or better education.