Question

Highlight the significant three factors that have contributed to the growth of globalisation.

Answer 1

1. Movement of goods and services: Globalisation has increased the flow of goods and services across countries, allowing nations to trade freely and access products from all over the world.
2. Information and Communication Technology (ICT): Developments in ICT,like the internet, mobile technology, and satellite communication,have made it easier for people and businesses to exchange information instantly worldwide.
3. Transportation technology: Modern means of transport, such as advanced ships, aircraft, and improved road/rail networks, have reduced travel time and transportation cost, enabling faster movement of goods and people.
4. Movement of people between countries: Connectivity between nations has increased, allowing people to migrate for work, education, and business. This movement of people has encouraged cultural exchange and strengthened global economic links.
5. Liberalisation of foreign trade and investment policies: Many countries have removed trade barriers and opened their markets to foreign companies, which has promoted international investment and expanded global economic links.