Economics
What are the various ways in which countries can be linked?
Global & Ind Econ
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Answer
The various ways in which countries can be linked are:
- The movements of goods and services — Countries are interconnected through foreign trade. This involves the exchange of goods and services across borders. Exports and imports play a crucial role in linking nations economically.
- Investments — MNCs operate across borders, invest in foreign markets, buy lands, provide jobs and thus contribute to economic integration.
- Exchange of technology — The movement of advanced technology between countries links them. Innovations, research, and knowledge flow globally, impacting economic growth and development.
- The movement of people between countries — People usually move from one country to another in search of better income, better jobs or better education and tourism.
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