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Question
Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.
Solution
Globalisation will continue in the future. Twenty years from now, the world will be more globally connected and integrated into one international economy, if this process continues on a fair and equitable basis. Trade and capital flows will increase alongside the mobility of labour. This will occur because liberalisation will get augmented and MNCs will converge with other companies producing the same goods.
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|
(i) |
MNCs buy at cheap rates from small producers |
(a) |
Automobiles |
|
(ii) |
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(b) |
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|
(iv) |
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(v) |
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