Main features of globalisation

The net effect of the impact on employment depends upon the speed of labour market adjustment, which itself depends upon mobility and flexibility. All these developments, driven mainly by technological changes, are accompanied by political decisions which play a major role in shaping the economic and social forces of globalisation.

Related Articles:. These benefits include the sharing of knowledge and technology between countries.

It can provide a high-rocket speed development rate for local markets! State began performing several socio-economic functions.

State-controlled command economies were operationalised and regarded as the best means for rapid socio-economic development. Related factors are the fact that Asia's population and area are several times that of North America.

This slowed down from the s onward due to the World Wars and the Cold War[53] but picked up again in the s and s.

What are the features of globalisation class 10

This phenomenon creates an intercultural communication which allows the creation of a brand new world. They charge that these UN-based organizations have been the agents of globalizat ion and that they have been used by developed countries as their instruments to exploit and dominate developing countries. Because of cost reductions and increased revenue, globalisation can generate increased profits for shareholders. These benefits include the sharing of knowledge and technology between countries. Multiple citizenship , also called dual citizenship or multiple nationality or dual nationality, is a person's citizenship status, in which a person is concurrently regarded as a citizen of more than one state under the laws of those states. But what is globalization and why are there so many people for and against it? These reforms paved the way for initiating the process of liberalisation and globalisation of Indian economy. As a result, a global civil society, though yet not fully developed, has come in to being, but a global state is a distant dream. A shift in the balance of economic and financial power from developed to emerging economies and markets — i. Structural changes may lead to structural unemployment and may also widen the gap between rich and poor within a country. This term has also been used at the times when the great Empires created colonies in the new worlds. By s economies of socialist countries began collapsing. This process has generated greater productivity gains which are rarely distributed to working people. Jobs may be lost because of the structural changes arising from globalisation. A Composite Process: Integration of nation-states across the world by common economic, commercial, po litical, cultural and technological ties; creation of a new world order with no national boundaries; Download