Globalisation

Need to know

What you need to know

• Key drivers include technological change, trade liberalisation, and the growth of MNCs.
• Globalisation involves the integration of trade, finance, labour, and culture.
• Reduced transport and communication costs are a primary catalyst.
• International organisations like the WTO play a crucial role in reducing trade barriers.

Explanation

Globalisation

1. Key drivers include technological change, trade liberalisation, and the growth of MNCs.
2. Globalisation involves the integration of trade, finance, labour, and culture.
3. Reduced transport and communication costs are a primary catalyst.
4. International organisations like the WTO play a crucial role in reducing trade barriers.