GLOBALIZATION
It means integrating the domestic economy with world economy.It involves increasing interaction among national economic systems, more integrated financial markets,economics of trade, higher factor mobility,free flow technology and spread of knowledge throughout the world.
some importance of globalization are listed below
It will improve the allocate efficiencies of resources, reduce the capital output ratio,and increase labour productivity increase the inflow of FDI and so on.
It creates competitive market environment with the generation of more employment opportunities.
It helps to restructure the production and trade pattern in capital scarce.
Some of the disadvantages of globalization are as follows
It degrades the environment in UDG due to exploitation of natural resources
It promotes the use of modern technology which ultimately displaces the traditional art and culture.
It may help to lose the national sovereignty.
It means integrating the domestic economy with world economy.It involves increasing interaction among national economic systems, more integrated financial markets,economics of trade, higher factor mobility,free flow technology and spread of knowledge throughout the world.
some importance of globalization are listed below
It will improve the allocate efficiencies of resources, reduce the capital output ratio,and increase labour productivity increase the inflow of FDI and so on.
It creates competitive market environment with the generation of more employment opportunities.
It helps to restructure the production and trade pattern in capital scarce.
Some of the disadvantages of globalization are as follows
It degrades the environment in UDG due to exploitation of natural resources
It promotes the use of modern technology which ultimately displaces the traditional art and culture.
It may help to lose the national sovereignty.
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