"Globalisation has been advantageous to consumers as well as to producers." Support the statement with suitable examples.
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Globalisation has been advantageous to producers in the following ways :
(i) The producers now have access to the international markets.
(ii) Globalisation has also enabled free movement of capital, i.e., via electronic transfers, etc.
(iii) Globalisation has enabled access to foreign investment in capital and technology via Foreign Direct Investment etc.
Globalisation has been advantageous to consumers in the following ways :
(i) Globalisation has led to employment generation, as a result, beneficial to the consumers.
(ii) Globalisation has also given rise to intense competition due to opening up of markets to foreign companies. As a result, this has led to the increase in product quality and decrease in the prices of the products.
(iii) The consumers have benefited from the arrival of MNCs as they have now larger choice in the goods that are available to them in the market.