Globalisation

Question 1

12m factors contributing to political and economic globalisation

Answer 1

• technological developments: instant communication, import and export cheaper and more profitable, shipping containers and low-cost aircraft business models has standardised methods of trade, global movement of people accessible to most
• emergence of free-trade agenda: removal of trade barriers, international trade now primary means of economic growth, nations specialising in certain goods
• political developments: decolonisation of the global south made new independent markets for trade, end of Cold War saw end to only ideological opponent to globalisation (communism) therefore more countries opening up economies, MNCs taking advantage of lower labour costs in the global south