features of globalization and analyse the impact of globalization on the standard of living in the global economy.

Outline the features of globalization and analyse the intrusion of globalization on the standard of living in the global economy. Globalization, is an important characteristic within the contemporary frugal environment, and has undoubtly provided a significant foreplay drug to economic harvest-feast for participating economies. The term globalization refers to the branch of increased integration amongst different countries and economies and the increased adjoin of international influences on all aspects of living and economic activity. The work for globalization has resulted in greater economic festering globally, by dint of the opening up of barriers to international trade, save this increase in gentleman output is frequently associated with detrimental effects in relation to the stability of a national economy, being concordant to the ups and downs of the international business cycle and also both confident(p) and negatively charged effects on the sta ndards of living or lineament of life with in a nation.

There are many an(prenominal) dimensions to globalization, and it is often difficult to categories an economy as being globalized, yet on that point are several key indicators of integration between economies; these embarrass: International trade flows International financial flows outgrowth of coronation flows b/w countries and the transfer of technology The movement of workers b/w countries Whilst economic growth is one of the more or less perspicuous features of globalization, the driving force for origination economic growth and economic g rowth within individual economies, is the gr! owth in international trade flows. In the last cardinal years world trade has grown significantly, as exports of goods and serve provide a major stimulus to economic growth. In most years the growth in trade of goods and operate volume has doubling the rate growth in world gross domestic product. In the Australian economy, exports represent over 20% of GDP in most years. One factor that has promoted trade growth is the expansion and military operation of transnational...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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