The Concept Of Globalisation

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  • the concept of globalisation
    • refers to the economic and social processes increasing interdependence between countries i.e. the flows of ideas, people, products, services and capital
    • economic and social trends linked closely to globalisation
      • TNC goods
      • international trade
      • rising importance of LEDCS. For raw materials, manufactured goods etc
      • decline of traditional manufacturing industries
        • deindustrialised
      • the offshoring of services such as ICT , billing and customer care from MEDCS to LEDCS
      • greater dependence of the global economy on flows of capital, controlled by world cities
      • rapid increase in the international migration of people and the creation of an international labour market


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