A level Economics Edexcel Theme 4

What are the characteristics of globalisation?

• an increase in the ratio of the value of overseas trade to a nation’s GDP

• Expansion of financial capital flows from one country to another

• increasing foreign direct investment flows moving across national borders

• more global brands- including a rising number from emerging countries

• deeper specialisation of labour in making specific component parts of technology transfers

• creation of global supply chains and new trade and investment routes in the world economy

• high levels of labour migration across national borders

• increasing connectivity of people, communities and businesses through networks

Define globalisation

Globalisation refers to the growing interdependence of countries ands the rapid rate of change it brings about

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