Globalization is a general term referring to the complex set of cross-border interactions between individuals, enterprises, institutions, and markets. How do developed and developing countries benefit from globalization?
Read carefully the instructions on the answer book and make sure that the particulars required are entered on each answer book. However, the originality of globalization is founded on technological innovations and advancement. Economic effects of globalization. Should we perceive globalization as an ideological tool?
In doing this, they employ the locals and the natives in the satellite companies. How important were communication technologies to the creation of a globalized world? Often the people who lose jobs as a result of technology are not the ones who get the new ones and the result can be hysteresis in the labour market with deep pockets of long-term unemployment and hit relative poverty.
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Brain drain again is a big issue for developing countries like India, a country invest a big sum of money for higher education in few premier institutes but at the time of pay back, pass out, students prefer to work in abroad.
One of the driving forces of foreign direct investment is that resources tend to flow where the unit cost of production is lowest.