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MARKETS AND GLOBALISATION |
9.6.2 ECONOMIC GLOBALISATION
Looking specif cally at economic globalisation, it centres on the four main economic f ows that characterise
globalisation:
• goods and services – exports and imports,
• labour/people – net migration, inward or outward,
• capital – inward or outward direct investment and portfolio investment and
• technology – international research and development f ows.
9.6.3 GLOBALISATION, MARKET AND INEQUALITY
Thus globalisation has meant an all-round opening-up of world markets. This has lead to a basic contradiction
between two contradictory principles – freedom and inequality – between which only imperfect compromises
can ever be made. A completely free market ...