A news magazine published for London readers is to be designed and printed in Delhi. The text of the magazine is sent through Internet to the Delhi office. The designers in the Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing is done on a computer. After printing, the magazines are sent by air to London. Even the payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (e-banking)!

In the above example, underline the words describing the use of technology in production.

How is information technology connected with globalisation? Would globalisation have been possible without expansion of IT?

Tax on imports is one type of trade barrier. The government could also place a limit on the number of goods that can be imported. This is known as quotas. Can you explain, using the example of Chinese toys, how quotas can be used as trade barriers? Do you think this should be used? Discuss.

Fill in the blanks.

WTO was started at the initiative of …………… countries. The aim of the WTO is to …………… . WTO establishes rules regarding …………… for all countries, and sees that …………… In practice, trade between countries is not …………… . Developing countries like India have …………… , whereas developed countries, in many cases, have continued to provide protection to their producers.