Importance of Globalization?


Globalization is the development of an increasingly integrated global economy that is marked especially by free trade. Some of the important facts about globalizing are 2/3 of international trade is accounted for by just five hundred corporations, 40 percent of the trade they control is between different parts of the same TNC, and TNCs have almost total control over the process of globalization. Another important fact is that international trade has grown 12 fold in the post war period and is expected to grow sixty percent annually for the next ten years. Globalization is good for all economies.
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