| After economic globalisation is defined, the factors that have favoured it in recent times are outlined and the process is placed in a historical context. Measures of the recent expansion in economic globalisation are given, such as trends in the proportion of global GDP traded internationally, and the relative size of global FDI. China’s comparative economic openness compared to the rest of the world is discussed. Potential positive and negative economic and social impacts of globalisation are explored, taking into account important economic theories. Particular attention is given to globalisation and the evolutionary dynamics of economic growth by considering the economic ‘catching up’ phase of countries, such as China, and by placing this in a general... |
