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Globalisation involves the increased integration and interdependence of the global economy. Since the 1960s, there has been an increased rate of globalisation, which has been characterised by rising trade, rising exports as % of GDP, greater movement of labour and capital, and an increased interdependence of the global economy.
Globalisation has benefitted some countries more than others. In particular, South East Asian countries, such as Vietnam, Korea and China have seen a growth in living standards due to their export boom. However, countries in Sub-Saharan Africa have struggled to experience improved living standards as they have not seen the same growth in exports.
In the developed world – the US, the UK and the Eurozone, globalisation has been a mixed
Read full article » https://www.economicshelp.org/blog/142760/economics/winners-and-losers-from-globalisation/
About | Economics Help |
This blog is written by Tejvan Pettinger. (born 1976)
He lives in Oxford where he works as an Economics teacher (A Level students) at Greenes College and formerly with Cherwell College, Oxford. Tejvan Pettinger studied PPE at Lady Margaret Hall, Oxford University, gaining a 2:1.
He contributes articles to the Economic Review and writes regularly on economics.
Between 2001 and 2006 he worked as examiner and Team Leader for Edexcel examinations.