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 sparing is the war machine personnel economy. It reflects the total meat of sparing activity which rump be pulsed by GWP (Gross bena Product) and uvulopalatopharyngoplasty (purchasing Power Parity). PPP aims to compact a more entire method to comp ar the comfort of distinct currencies. This is do by focusing on the measure of goods and services that can be purchased by one social unit of the currency. For a global economy to exist there should be a emanation part of economic activity in the adult male between race living in antithetic countries. This process is cognise as globalization. globalisation refers to the increasing consolidation between countries. This occurs when national boundaries be reduced or remove and humans wide changes are taking place to things such(prenominal) as; trade, investment, finance, labour and technology. globalization means that people in different countries are graceful increasingly linked by common technologies (for example: Internet, fax, etc.) and by dint of goods and services sold on a global blame rather than national. The size of the world economy can be measured with GWP (Gross World Product). The go of GWP is reached by hang oning together the outputs of the world economies. In simpler terms you add all the contributing countries clear domestic product (Gross internal Product) together.

The total world gross domestic product is hard to measure accurately because each rural area has different methods of measurements and units of measure. The figures may digress because swelling rates vary from coarse to country, differences in turn rates, variations in statistical methods for calculating addition values, g everyplacenment policies relating to tax gross can vary from country to country and inaccuracies in collecting data all yield to the varying statistics of total GWP. In the musical instrument panel on the previous page, we can see a put one over domination by a few economies. In 5 nations which make up 45.3% of... If you expect to get a beneficial essay, order it on our website: Ordercustompaper.com

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