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Globalisation is the outcome of the policies of liberalisation and privatisation. Globalisation implies greater interdependence and integration. It involves creation of networks and activities transcending economic social and geographical boundaries. The best example is of outsourcing.
e.g. BPOs.
Globalization is mix bag of results. On one hand it has provided greater access to global markets, imports of high Technology etc. on the other hand developed countries expands their markets in other countries. It has also been pointed out that markets driven globalization has widened the economic disparities among nations and people.