Write a note on globalization. Long …

Globalization is the rapid integration of countries through foreign trade and foreign investment by MNCs.

• The money that spend on buying assets such as land, buildings, machines and other resources is called investment.
• When MNCs made this investment in different countries then it is called foreign investment.
• The primary purpose of foreign investment is to reduce the cost of production.
• Producers need markets to sell their products. They can sell products in market of same country or different country. Similarly a buyer can import the product of his interest from market of same or different country.
• Importing or exporting the products across the native country boundary is called foreign trade.
• Thus globalization enables greater integration of production and markets across countries.
• Globalization created the opportunities for peoples to move across the nation in search of better education, better job or better income.