Global Economy
Globalisation, or “the flattening of the globe”, is continuously felt in every corner of the world. Its impact is evident with companies in various industries going international to market their products. Aside from the ultimate purpose of earning more profits, businesses are riding in the bandwagon of globalisation to have a growing customer demand, global competition, opportunities for growth, lesser tariffs of other countries imposed on them, and a variety of other factors which is ultimately for the improvement of company sales.
Global economy….global concern.
Similarly, third world countries benefit from globalisation mostly through the outsourcing of manpower to advanced countries where various services are needed. A lot of Western countries practice outsourcing because production cost is definitely lower. Thus, globalisation enables different countries to help each other improve their economies more efficiently.