Describe briefly FIVE major developments over the past twenty years or so that have led to globalisation.
Improved transportation
Transportation systems, especially rail, shipping and air travel have improved. More goods than ever can now be moved relatively easily, rapidly and cheaply from where they have been formed to countries and regions where they are consumed.
Low cost efficient communication systems
Advances in, and the subsequent spread of, latest technologies have revolutionised international communications and confident the development of global patterns of production and consumption.
Increased movement of capital and technology
Simpler access and cheaper transport has led to enhanced movements of capital and technology across borders. Inevitably, this has, in turn, impacted on local cultures, knowledge sharing and learning as people travel further.
Production efficiencies
The development of industrial and agricultural production processes by greater automation and improved methods has reduced reliance on labour for basic agricultural and production requires. This has led to a redeployment of people to satisfy global consumer requires and needs.
Improved financial systems
The efficient and safe transfer of funds from the buyer to the seller is necessary and so improvements in the financial systems have been significant in developing international trade. There has been an huge expansion of international financial markets.
Emergence of BRIC economies
There has been a large enhance in foreign direct investment (FDI) flowing to developing and transition economies. The emergence of the BRIC economies