SIMPLE MEANING OF GLOBALISATION

globalisation is a process of intraction and integration amoung people,

companies and governments of different nations, a process driven by
international trade and investment and aided by information
techonology.

"Afterglobalisation promise" by pulapre balakrishnan, an economist.

(Article The hindu, july 18 2017)

globalisation as condition: globalisation increases interdependence

between nations of the world. Thus result, economic sovereignty and
control over the domestic economy are reduced.There is a danger of
foreign economic dominance over the developing economics. As a
result increase inequality, poverty and social unrest may increase.

points in article

1. global financial crisis in 2008- increasing connectedness amoung

nations leading to a virtuous cycle of economic expansion.

2. role of techonology - 19th centuary globalisation increase

techonologically advanced.

eg: telegraph for better communication in trade.

3. the slowdown and india

mainly in IT sector as leaf frog.

4. in public investment

.twin balance sheet problem -keynston observation.

.phase before 100 years and after- bridges and highways increases.

Richard N Cooper ,economic expert and professor published an article

in science direct, chapter 23, "economic interdependence and
cordination of economic policies". This article clearly says the
globalisation a condition.

Another economic  professor pulapre balakrishnan ,Ashoka university

and senior fellow IIM kozhikode.