Question

What is worldwide interconnectedness? What are its components?

Answer 1

The worldwide interconnectedness implies to interlink the world through free flow of goods and services, technology, ideas and people across the globe to extend globalisation.

This contains three components :-

1. Capital Flow :- It is the flow of resources through loans or business investments among the countries.
2. Trade Flows of Goods :- It refers to exchange of goods among countries.
3. Labour Flow :- It refers to ‘Brain drain’ by creating favourable conditions for employment.