Globalisation has become a catchword for the international economy in the late twentieth century. It is a truism that nations have become more interdependent through the flows of goods, services, and financial capital since the 1970s. The growing importance of export-oriented industrialisation has made integration into the global economy virtually synonymous with development for a number of nations. Most recently, the projection of national production systems across borders through direct investment and international subcontracting has deepened the interdependence and functional integration of the world economy. However, there is an acute awareness that the gains from globalisation are very unevenly distributed within, as well as between, societies.
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