Describe the factors contributing to increased global economic integration Explain the changes in trade and financial
Globalisation is the bringing together of individual markets into a global economy. It incorporates the links developed between national economies through increasing trade flows, flows of funds and flows of other resources and ideas. Globalisation has had a significant impact on the flow of International trade, finance, investment and technology in recent years. These four areas have increased enormously due to the removal of trade barriers and the introduction of free trade between economies. ... The increase in the flow of world trade is due to the influence of Transnational Corporations (TNC’s) who develop smaller branches in many different countries. These branches then export goods to all parts of the world increasing the flow of trade between different economies. In the late 20th Century, technology exports were dominating international trade, now services such as tourism, education and finance are the fastest growing areas of world trade.