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Discuss the broad benefits that globalization has on not only individual economies but the world economy

Discuss the broad benefits that globalization has on not only individual economies but the world economy

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Answer #1

The Globalization has benefitted the world economy by

  1. FDI ( fOREIGN DIRECT INVESTEMENT ) - Which tends to rise at very fast rate than the growth of world trade , it is helping in boosting the technology transfer , global compaies growth an indsutrial restructuring
  2. economies of scale - Through globalization , big and larger companies understood economies of scale which lesses the price and cost and make economic growth as a whole
  3. technological innovation- Through globalization , there is stimulation of new technology development like FDI which make the process more efficient by improving economic output .

Have a good day !

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