Globalisation

Statement

Globalisation refers to the integration of national economies through trade of goods and services, foreign direct investment, capital flows, spread of technology and labour migration.

Notes

Globalisation is the deepening interconnectedness of economies, allowing resources, goods and services to move more freely across national boundaries. It is broader than international trade alone: trade in goods and services is one strand, alongside cross-border investment, capital flows, technology transfer and the migration of labour. What accelerates or decelerates the process is treated in the factors affecting globalisation.