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Global Economy |
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Economy has become a serious concerned in todays world. When technology is blooming like any thing the economy of the world is also chancing. With more and more industries and private sectors coming up the whole scenario of economy is changing. Technology has allowed the world as a global. Global economy is one of the types of economy. Global economy has given a new dimension to the world's economy. As development in every sector is growing at so is the economy of the world becoming globalized. Global economy has helped to develop partnerships in the world.
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Global economy is related to the present development and technological advances. People are becoming more and more advanced. The social and economical status of the world is also changing because of the global economy.
Industries are growing in fast rate and so is the infrastructure in the world growing. Before global economy United States dominated the economy globally. The country had a 25% share in the global economy. But as developing countries are becoming more developed the economy of the world is also going under a major change. Many countries follow both socialist and capitalist economy. As capitalist economy is more dynamic and helps in generating more wealth many countries are planning to adopt capitalist economy. In this type of economy the economic activities are governed by private sectors. This has helped the private sectors to come up with new economic programs aimed at generating more revenue and eventually helping the country in national development.
Global economy is growing and developing at a fast pace. There are many advantages in global economy. This type of economy helps to increase the benefits. One important advantage of global economy is that many companies are becoming multi national companies. This economy has helped many companies to break the global barriers. This has helped many countries to get cheap workforce, technology and raw materials. Global economy helps the smaller companies to expand. In the past few years many small companies have expanded globally which eventually helped in creating more job opportunities.
Due to global economy, companies are more choice in terms of workforce and customer. India is making steady progress in its economy. In the past two decades India had witnessed a tremendous growth in its infrastructure. As more and more industries are coming up in the country the economy of India is also slowly becoming globalized. Global economy is surely going to make the world more advanced in future opening up more job opportunities for the people. |
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