Acceleration Of Globalisation

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  • factors that have accelerated globalisation
    • TNC's in the global economy
      • production/ service operations in several countries which compete in global markets
      • Untitled
      • have great economic importance and political influence
    • explaining the growth of TNC's
      • flexibility
        • TNC's exploit geographical differences in the costs of production and government policies towards Foreign Direct Investment
          • most governments want to attract FDI so offer incentives to TNCs such as reduced tax and subsidies
        • switching production to other locations results in job losses
      • size and political influence
        • TNCs serve international markets which favours large scale production of goods and services
          • this achieves economies of scale and lower unit costs
        • due to their economic power, governments are eager to attract TNC investment
        • global telecoms
          • many telecom based TNCs are common
          • allows to share and access information across geographically dispersed operations
    • global markets - demand is driven by...
      • population growth in developing countries
      • industrialisation of BRICS
      • the emergence of market based economies e.g. China and Russia
      • liberalisation of trade and capital markets
      • falling transport and communication costs
    • international organisations
      • International Monetary Fund (IMF), World Bank (WB), World Trade Organisation (WTO)
      • aims are to assist the world economy, combat poverty, promote free trade

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