This storyboard does not have a description.
In recent decades, travel and shipping are safe and cheap. Therefore things can be transported from one place to another easily.
But with the entry of MNCs, economic activities of companies were spread over many countries. Divisions in the processes of production and other activities were created as MNCs established their offices and factories for production in areas where there was easy availability of cheap labour and other resources. This was done so as to decrease the cost of production and increase profits.
Before the advent of MNCs, production was predominantly organised within individual countries. They used to trade in raw materials, food stuff and varieties of finished goods.
Furthermore, since governments have decreased tariffs and regulations on international trade in countries all over the world... global trade and economic independence have increased dramatically in recent decades because international trade is easier nowadays.
One country depends on another country for something and that country may depend on another country, which eventually creates global interdependence. Importing and exporting of goods and services highly contributes to global interdependence. This also relates to how travel and shipping is safe and easy and how governments have decreased tariffs and regulations on international trade.
Cheap Labor also affects how global trade and economic interdependence have increased. Cheap labor is when a person works hard for very little money. They also usually work under really, really, really bad conditions. Cheap labor usually happens in factories.
The increase in global communication has made economic interdependence and global trade easier because global communication can increase business opportunity and make fewer cultural barriers.
Explore Our Articles and Examples
Try Our Other Websites!
Photos for Class
– Search for School-Safe, Creative Commons Photos (It Even Cites for You!
– Easily Make and Share Great-Looking Rubrics
– Create Custom Nursery Art