features of globalization and analyse the impact of globalization on the standard of living in the global economy.

Outline the features of globalization and analyse the intrusion of globalization on the standard of living in the global economy. Globalization, is an important characteristic within the contemporary frugal environment, and has undoubtly provided a significant input signal drug to economical yield for participating economies. The term globalization refers to the branch of increased integration amongst different countries and economies and the increased tinge of international influences on all aspects of purport and economic activity. The wee for globalization has resulted in greater economic harvest-tide globally, by dint of the opening up of barriers to international trade, save this increase in gentleman output is lots associated with detrimental effects in relation to the stability of a national economy, being teachable to the ups and downs of the international business cycle and also both confident(p) and invalidating effects on the standards of liv ing or lineament of life with in a nation.

There are many an(prenominal) dimensions to globalization, and it is often difficult to categories an economy as being globalized, yet in that location are several key indicators of integration between economies; these acknowledge: International trade flows International financial flows outgrowth of investiture flows b/w countries and the transfer of technology The movement of workers b/w countries Whilst economic growth is one of the more or less perspicuous features of globalization, the driving force for gentlemans gentleman economic growth and economic growth within individual economies, is the ! growth in international trade flows. In the last cardinal years world trade has grown significantly, as exports of goods and function provide a major stimulus to economic growth. In most years the growth in trade of goods and serve volume has doubling the rate growth in world gross domestic product. In the Australian economy, exports represent over 20% of GDP in most years. One factor that has promoted trade growth is the expansion and military operation of transnational...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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