a) Characteristics

a) characteristics of globalisation

b) factors contributing to globalisation in the last 50 years

globalisation = the economic integration of countries through freedoms in the cross-border movement of people, goods/services, capital, and finance

characteristics

• foreign ownership of firms

• movement of labour and capital across borders

• free trade in goods/services

• easy flow of finance across borders

factors contributing to globalisation in the last 50 years

• containerised shipping

  • less theft

  • faster shipping time

  • decreased transport costs

• communications technology

  • offshoring

  • international promotions

  • international communication

• growth of transnational firms

  • global production

  • international trade

  • workplace building + job creation