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Technological advancements:
Technological changes made globalization become real. Since the twentieth century world has been experiencing major advances in communication, information processing and transportation technology, including the essential invention of the Internet and the World Wide Web (www).
Demographics of World Economy
Changes in world output
World output has increased dramatically since the 60s. At the same time the emphasis of the United States has declined and their position of the world’s largest exporter is shared with Japan, Korea and Germany. In contrast, economies of China, India, Mexico, Brazil and Russia continue to grow. All of the above indicate a shift in the economic geography of the world.
Changes in FDI
The share of developed countries, such as USA, in FDI has been decreasing. While, developing countries continue to increase their cross border investments. For China & India investment funds provide an important stimulus for economic growth.
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