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Factors Influencing Globalization Essay

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Factors influencing Globalization are as follows: (1) Historical (2) Economy (3) Resources and Markets (4) Production Issues (5) Political (6) Industrial Organisation (7) Technologies.

Globalisation though is basically an economic activity, is influenced by many factors.

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The important factors are:

(1) Historical:
The trade routes were made over the years so that goods from one kingdom or country moved to another. The well known silk-route from east to west is an example of historical factor.

(2) Economy:
The cost of goods and values to the end user determine …show more content…

The regional trade understandings or agreements determine the scope of globalization. Trading in European Union and special agreement in the erstwhile Soviet block and SAARC are examples.

(6) Industrial Organisation:
The technological development in the areas of production, product mix and firms are helping organisations to expand their operations. The hiring of services and procurement of sub-assemblies and components have a strong influence in the globalisation process.

(7) Technologies:
The stage of technology in a particular field gives rise to import or export of products or services from or to the country. European countries like England and Germany exported their chemical, electrical, mechanical plants in 50s and 60s and exports high tech (then) goods to under developed countries. Today India is exporting computer / software related services to advanced counties like UK, USA, etc.

Eight barriers in economic activities:
Many countries in Particular developing ones impose restrictions to globalisations by:

i. Imposing high taxes and duties for capital goods, spares and materials,

ii. Licensing

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