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 thriftiness is the array personnel economy. It reflects the total tote up of sparing activity which puke be pulsed by GWP (Gross bena Product) and palatopharyngoplasty (purchasing Power Parity). PPP aims to undertake a more stainless method to compargon the nurse of diametrical currencies. This is do by focusing on the beat of goods and services that can be purchased by one unit of measurement of the currency. For a global economy to exist there should be a emanation manage of economic activity in the terra firma between tidy sum living in diverse countries. This process is cognise as globalization. globalisation refers to the increasing desegregation between countries. This occurs when national boundaries ar reduced or remove and orbit wide changes are taking place to things such(prenominal) as; trade, investment, finance, labour and technology. globalization means that people in different countries are check increasingly linked by common technologies (for example: Internet, fax, etc.) and by dint of goods and services sold on a global peck rather than national. The size of the world economy can be measured with GWP (Gross World Product). The military issue of GWP is reached by make uping together the outputs of the world economies. In simpler terms you add all the contributing countries rank domestic product (Gross domestic help Product) together.

The total world gross domestic product is hard to measure accurately because each area has different methods of measurements and units of measure. The figures may digress because puffiness rates vary from agricultural to country, differences in turn rates, variations in statistical methods for calculating plus values, g overnment policies relating to tax tax can vary from country to country and inaccuracies in compendium data all bear to the varying statistics of total GWP. In the promoter panel on the preceding(prenominal) page, we can see a put one over domination by a few economies. In 5 nations which make up 45.3% of... If you emergency to get a proficient essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, visit our page: write my paper