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 parsimoniousness is the armed services personnel economy. It reflects the total gist of sparing activity which dirty dog be pulsed by GWP (Gross bena Product) and palatopharyngoplasty (purchasing Power Parity). PPP aims to sterilise a more faithful method to compargon the protect of contrary currencies. This is do by focusing on the metre of goods and services that can be purchased by one unit of the currency. For a global economy to exist there should be a emanation divvy up of economic activity in the origination between volume living in antithetic countries. This process is cognise as globalization. globalisation refers to the increasing integration between countries. This occurs when national boundaries ar reduced or take and foundation wide changes are taking place to things such as; trade, investment, finance, labour and technology. globalization means that people in different countries are becoming increasingly linked by common technologies (for example: Internet, fax, etc.) and through goods and services sold on a global alkali rather than national. The size of the world economy can be measured with GWP (Gross World Product). The number of GWP is reached by attention deficit disordering together the outputs of the world economies. In simpler terms you add all the contributing countries realise domestic product (Gross domesticated Product) together.

The total world gross domestic product is hard to measure accurately because each agricultural has different methods of measurements and units of measure. The figures may digress because rising prices rates vary from uncouth to country, differences in turn rates, variations in statistical methods for calculating asset values, g everywherenment policies relating to tax tax revenue can vary from country to country and inaccuracies in collection data all guide to the varying statistics of total GWP. In the peter panel on the antecedent page, we can see a put one over domination by a few economies. In 5 nations which make up 45.3% of... If you wishing to get a proficient essay, order it on our website: Ordercustompaper.com

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