Globalisation
According to Lloyd Erskine Sandiford, globalisation is defined as "the trend towards increasing inter-relationships and integration among countries in the international economy through international trade, free markets, foreign direct investments, and capital mobility."
Globalisation can be characterised by four types of change. It involves the stretching of social, political and economic activities across political frontiers, regions and continents. It suggests the growing magnitude of interconnectedness in areas such as flows of trade, investment, finance, migration and culture. The growing intensity of interdependence as world trade systems of communication and transport increases the speed of ideas, goods, information, capital and people across regions and continents. The impact of the growing intensity of interdependence such that the effects of distant events can be highly significant elsewhere which may even lead to enormous global consequences.
The globalisation......
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