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What is globalisation?

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What is globalisation?

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Solution

Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.

Here are the steps to understand globalisation:

  1. Understanding the Concept: Globalisation refers to the increasing interdependence, integration and interaction among people and organisations from different nations. It is a process driven by international trade and investment and aided by information technology.

  2. Recognising the Drivers: The main drivers of globalisation are increased international trade, technological advancement, and foreign direct investment. These factors have

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