Globalization Is The Integration Between Different Countries And Economics

840 Words Nov 3rd, 2016 4 Pages
Globalisation is the integration between different countries and economics and the increased impact of international influence on all aspects of life and economic activity.Changes in an individual economy or country can have global implications.The aggregate value of all goods and services that main features of globalisation are the international trade in goods and services, financial flows, the investment and transnational corporations, technology, transport and communication along with the international division of labour and migration.Although globalisation has led to increased economic growth, it’s benefits have not been equally shared between all countries.There are still large differences between developing, emerging and advanced economics in the world.Economics development is a broad measurement of welfare in a nation that includes indicators of health, education and environmental quality as well as material living standards.The unequal distribution of wealth and income in the world affects the overall standard of living.

International trade is the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events.The WTO agreements cover goods, services and intellectual property. They spell out the principles of liberalization, and the permitted exceptions. They include individual countries’ commitments to lower customs tariffs and other trade barriers,…

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