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Understanding Globalisation and Economic Integration Study Guide

This guide explores the multifaceted nature of globalisation, detailing its definition, the key drivers of economic integration such as multinational corporations and foreign trade, and the technological advancements that have facilitated its growth. It also touches upon the movement of people and the impact of information technology on global economic processes.

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Understanding Foreign Trade and Globalisation

Globalisation and Factors Enabling Integration

Globalisation and Economic Integration Processes

Globalisation is the process of rapid integration or interconnection between countries through the movement of goods, services, investments, technology, and people.

  • Globalisation
  • MNCs
  • Foreign investment
  • Foreign trade
  • Movement of people
  • Transportation technology
  • Containers for transport of goods

Liberalisation of Foreign Trade and Investment

Liberalisation of Foreign Trade and Investment

Liberalisation involves removing barriers or restrictions set by the government to allow businesses to make decisions freely about what they wish to import or export.

  • Liberalisation
  • Trade barrier
  • Tax on imports
  • Quotas
  • Foreign investment policy
  • Domestic producers

Using IT in Globalisation

Using IT in Globalisation

Information and communication technology facilitates globalisation through telecommunications, computers, and the Internet to spread out production of services across countries.

  • Information and communication technology
  • Telecommunications
  • Internet
  • Satellite communication
  • E-mail
  • E-banking
  • Globalisation
  • Spreading out production of services

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