Question

Explain any two economic consequences of globalisation.

Answer 1

1. Economic globalization typically entails increased economic exchanges between various nations worldwide. Rich countries invest their money in countries other than their own as a result of economic migrations in various forms, including commodities, capital, people, and ideas. It also underscores the substantial impact of the IMF and WTO on the development of global economic policies.
2. Advocates of economic globalization contend that deregulation leads to increased economic development and well-being for a broader range of the population. Increased trade among nations enables each economy to concentrate on its strengths. This would be advantageous for the entire globe.