(a) "Rapid improvement in technology has been one major factor that has stimulated the globalisation process." Explain the statement with examples.

i. Rapid improvement in technology has been one major factor that has stimulated the globalisation process.

ii. For instance, the past fifty years have seen several improvements in transportation technology.

iii. This has made much faster delivery of goods across long distances possible at lower costs.

iv. Even more remarkable have been the developments in information and communication technology. In recent times, technology in the areas of telecommunications, computers, Internet has been changing rapidly.

v. Telecommunication facilities (telegraph, telephone including mobile phones, fax) are used to contact one another around the world.

(b) Foreign trade and foreign investment policies are the aspects of liberalization and globalisation. Explain the statement with examples. Foreign Trade and Foreign investment are main channels of connecting countries.

(i) Foreign Trade creates opportunities for producers to reach beyond domestic markets and invest outside for better returns.

(ii) Gives consumers more choices at less cost across the countries.

(iii) Liberal policies of government i.e. removing barriers on imports and exports facilitate foreign trade and foreign investment.

(iv) Liberalisation leads to expansion of foreign trade resulting in connecting of markets of various countries.

(v) Multinational Corporations expand their production and invest capital in various countries and produce the goods globally.

(vi) For operating smoothly they need favourable government policies(libaralisation).