What does globalisation mean? What factors contributed to its rise?

Globalization is a process that increases interconnectedness among the countries in the world. It mainly happens when the Nations integrate their finance, economy, trade and communication with one another.

Globalization helps in socio-economic development. Factors that can contribute to its rise are:

• Mobility of Human resource.

• Cheaper trade transactions among nations and free flow of trade.

• Money transactions among Nations became easier with the removal of capital exchange control.

• People from all around the world have access to foreign products and thus they demand more such trade and exchange.

• Technological advancement has proven beneficial in bringing global markets and products within our reach.