Key Points:

1. Globalisation is the process of rapid integration of countries. There are three types of movement within international economic exchanges. a) The flow of trade in goods and services. b) The flow of labour by the migration of people c) The movement of capital for investments over long distances
2. An MNC is a company that owns or controls production in more than one nation. MNCs set up factories for production is regions where they can get cheap labour and other resources so that they can get greater profits.
3. Integration of markets and production through trade and investments controlled by multinational corporations with huge wealth and power is one of the hallmarks of the present phase of globalisation.
4. Liberalisation is the process which removed the barriers to trade and investment and opened the economies to the forces of globalisation.
5. The benefits of globalisation have been unevenly distributed. It has benefited well-off consumers and also producers with skill, education and huge wealth.
6. International organisation like World Trade Organisation (WTO), World Bank (WB) and the International Monetary Fund (IMF) represent the interests of the developed countries for more than that of the developing world.
7. Globalisation has also created new opportunities for companies providing services, particularly those involving Information Technology (IT).
8. Critics of globalisations argue that globalisation harms democracy, workers rights and the environment is many of the poor countries. They point out that it is another attempt by some countries read the west to dominate the world.
9. In the few years, massive campaigns and representation by people's organisations have influenced important decisions relating to trade and investments at the WTO.

Key Words:

1. MNCs:An MNC is a company that owns or controls production is more than one nation. MNCs set up offices and factories for production is regions where they can get cheap labor and other resources so that they can earn greater profits.
2. Nation State: Countries interlink in trade and political issues.
3. Technology:Scientific advancement. Rapid improvement is technology has been one major factors that has stimulated the globalisation process. The developments in information and communication technology have been even more remarkable and rapid.
4. Foreign Investment: The investments made by the MNCs and other foreign institutions.
5. Foreign Trade: Exports & Imports.
6. Liberalisation: Removing barriers on international trade. It means goods could be Imported and exported easily and foreign companies could setup factories and offices here.