Features of Globalisation:Liberalisation: ... Free trade: ... Globalisation of Economic Activity: ... Liberalisation of Import-Export System: ... Privatisation: ... Increased Collaborations: ... Economic Reforms:
These are the key features of globalisation:all societies have become interconnected.international economic integration with global production.transnational media systems creating a global culture, global consumerism to create a global village.global tourism.media imperialism.More items...•
One commonly recognized effect of globalization is that it favors Westernization, meaning that other nation-states are at a disadvantage when dealing with the Americas and Europe. This is particularly true in the agricultural industry, in which second- and third-world nations face competition from Western companies.
Increased greenhouse gas emissions, ocean acidification, deforestation (and other forms of habitat loss or destruction), climate change, and the introduction of invasive species all work to reduce biodiversity around the globe.
Globalization and regionalization processes have dual nature. The main lines of these processes will be defined: coherence, interdependence or contradiction and that depends on what tendencies in the relations between participants of these processes prevail – rivalry or cooperation.
The correct answer is (E) jobs moving to nations with low-cost labour.
According to the disciplining hypothesis, globalization restrains governments by inducing increased budgetary pressure. As a consequence, governments shift their expenditures in favour of transfers and subsidies and away from capital expenditures.
Globalization, thus, has powerful economic, political, cultural and social implications for sovereignty. Globalization has led to a decline in the power of national governments to direct and influence their economies (especially with regard to macroeconomic management); and to determine their political structures.
Overall, globalization has profound influence on nation-state in political, economical and cultural fields. These three aspects both threatened the nation-state, it weaken their sovereignty and make their economic activities unstable and easy to undermine their national culture due to the cultural globalization.