Question

Explain the co-relationship between the following:

Globalisation and National economy

Answer 1

1. Globalization is the phenomenon of integrating a national economy with the global economy.
2. To achieve this integration, the national economy is anticipated to eliminate all barriers, thereby facilitating the path for free trade.
3. Globalisation implies free flow of capital, technology and human resources across the world.
4. Free market economy is advocated to promote mutual cooperation and mutual dependence.