Question

Name three globalisation forces and briefly explain how they contribute the shaping of today’s world economic geography.

Answer 1

Three globalisation forces are -

1) low and improved transportation costs - Due to many alternative transportation facilities and improved ways to move from one place to each other, people, goods and services can move quickly and efficiently from one place to another which helped in world to be more globalised.

2) technological changes - advanced technologies has helped in outsourcing products enabling firms to sell in different nations their products and services . Ecommerce system like Amazon , Ebays etc have come up successfully.

3) Low barriers to trade and Investment -

Earlier countries were very sensitive in case of trade and investment but now they are facilitating free trade , bilateral multilateral pacts . This all has fueled up the process of globalisation.