Question

Explain Globalism. What factors drove it? How did this impact the working classes, non-Western societies and women?

Please help

Answer 1

globalisation in economics is defined as the interdependence of the different nations on each other for mutual trading through free trade. in the concept of globalisation, there is a import and export of the goods and services across the boaders of nations.

economics globalisation also includes the competiotion among the nations also.

So many factors of globalization are as:-

1) less protectionism

2) technological differences.

3) unsimilar tax systems.

4) due to comparative advantage and etc.

pros. of the globalisation are as:-

1) boosts the economic growth of the nations through trading.

2) gives encouragement to the small, medium and large size industry.

3) free trade among nations also boosts democracy.

4) consumers and producers of the nations becomes more aware by globalisation.

5) globalism has decreased the gender inequality. Now, women works with men in each sector.

Yes, Globalisation has increased the economic growth. By globalization, all the small and large producers of the industry are able to sell their product in international market. Hence, income gap between poor and rich have decreased.

cons. of the globalisation are as:-

1) it increases the economic inequality. as the richer becomes more rich and poorers become more poor.

2) it expoits the small industries of the developing countires.

3) it creates the unemployment in the small countries.

Also, globalisation leads to race among the countries.