Interlinking Production Across Countries

China has become an attractive destination for investment by foreign MNCs because of 

Read the statements below carefully and choose the correct option.

Statement $1$: Globalisation results in a free movement of goods and services, labour, investment and technology.

Statement $2$: Sustainable development aims at putting the needs of the present generation before the needs of future generations.

Statement $3$: NEP $1991$ focussed on isolating the economy from the rest of the world.

What was the main channel connecting countries in the past? How is it different now?

How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.

Evaluate the impacts of opening foreign trade on the global economy by identifying the appropriate statements among the following options:

I. The choice of goods in the markets increase.

ii. Producers from two countries closely compete against each other despite the distance between their locations.

iii. Foreign trade thus results in connecting the markets or integration of markets in different countries.

iv. The quality of the product is always good.