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Answer to Question #51776 in Other Economics for rini

Question #51776
Write down the drivers of globalisation?
Expert's answer
Globalization is the process of international integration. It arises from interchange of world views, products, ideas and other aspects of culture.
The main drivers for globalization are:
- Technological drivers (innovations in the transportation technologies; Innovative means of communication (mobile connection, Internet);
- Political drivers (Liberalized trading rules and deregulated markets);
- Market drivers (as a result of local markets saturation, companies aim to move to the international markets);
- Cost drivers (labour and resource costs vary from country to country, this fact is the reason for companies to search for cheaper resources abroad);
- Competitive drivers (with the globalization the inter-company competition increases, that is the reason for them to play on the international markets).

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