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Question
What is worldwide interconnectedness? What are its components?
Solution
The worldwide interconnectedness implies to interlink the world through free flow of goods and services, technology, ideas and people across the globe to extend globalisation.
This contains three components :-
- Capital Flow :- It is the flow of resources through loans or business investments among the countries.
- Trade Flows of Goods :- It refers to exchange of goods among countries.
- Labour Flow :- It refers to ‘Brain drain’ by creating favourable conditions for employment.
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