Question

Explain the nature of globalisation.

Answer 1

• Globalisation means aligning the economy of the country with the world economy.
• There is free trade and all restrictions on (foreign) investments are set aside.
• There is free flow of natural resources, profit, services, capital, labour and technology across the world.
• The aim is to establish a borderless economy. 
• The recent economic policies of the government are leading the economy towards globalisation.