1. Globalisation
Basically, this means that national economies have developed economic relations that have transcended the nation state and occur at a supranational level, giving rise to the world economy. As a result of economic globalisation, advocates propose that it no longer suffices to refer to goods as being American, British or Chinese and no longer appropriate to refer to economies as being German or Canadian but more appropriate to refer to a global economy, in which interdependent and interrelated economic relationships have developed, spearheaded by improvements in transport and telecommunications...
- Word Count: 3797
- Approx Pages: 15
- Grade Level: Undergraduate