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Globalization And The Major Aspects Of Globalisation

1303 Words6 Pages

Aspects of globalisation:
Globalisation is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. In the fast-moving world that we live in today, it can be hard to get to grips with what is happening with global interconnectedness, and to sort out the complex ways in which it effects the different continents and people involved.
Many different examples of globalisation include advances in the world of transport (such as the steam train, steamship, jet engine and container ships) and in telecommunications (including the internet and mobile phones). These have been major factors in globalisation.
Cross-border linkages are no longer restricted to a small group of countries and multinational companies. The flow of goods and services through the open borders in the Eurozone has a massive impact on the nature of the business world today. Free trade allows businesses to import and export goods and services significantly cheaper than they would otherwise. The impact of Brexit is set to have a huge impact on the exportation of goods and services from Ireland to the UK. Ireland must explore other foreign markets to do business with as the consequences of Brexit occur. Market-based economic policies have contributed to open up the trade barriers that have been removed. Foreign Direct Investment has a huge impact on economies around the globe. Irelands low corporation tax of 12.5% makes it a haven for

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