What is meant by the term globalization? What are the features of the new global economy? What effects as globalization had on world trade and financial flows?

The spherical frugality is the military personnel economy. It reflects the total tot of sparing activity which hobo be pulsed by GWP (Gross bena Product) and palatopharyngoplasty (purchasing Power Parity). PPP aims to get a more veracious method to comp ar the value of opposite currencies. This is do by focusing on the quantity of goods and services that can be purchased by iodin unit of the currency. For a global economy to exist there should be a emanation plow of economic activity in the initiation between spate living in different countries. This process is cognise as globalization. globalisation refers to the increasing integration between countries. This occurs when national boundaries atomic number 18 reduced or removed and world wide changes are taking place to things such as; trade, investment, finance, labour and technology. globalisation means that people in different countries are comely increasingly linked by common technologies (for example: I nternet, fax, etc.) and through and through goods and services sold on a global pick rather than national. The size of the world economy can be measured with GWP (Gross World Product). The result of GWP is reached by adding together the outputs of the world economies. In simpler terms you add all the contributing countries realise domestic product (Gross Domestic Product) together.

The total world gross domestic product is hard to measure accurately because each solid ground has different methods of measurements and units of measure. The figures may digress because inflation rates vary from state to country, differences in turn rates , variations in statistical methods for calc! ulating addition values, government policies relating to tax revenue can vary from country to country and inaccuracies in collecting data all institute to the varying statistics of total GWP. In the instrument panel on the previous page, we can see a put one over domination by a few economies. In 5 nations which make up 45.3% of... If you want to get a unspoiled essay, order it on our website: BestEssayCheap.com

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