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Explain the meaning of the term globalisation and identify its benefits and costs. How and why will it affect banks’ staff, their owners, their depositors, and their borrowers?
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Explain the meaning of the term globalisation and identify its benefits and costs. How and why will it affect banks' staff, their owners, their depositors, and their borrowers? The meaning of the word globalisation has been explored by many scholars, leading to a strong controversy. Despite the existence of different views and theories on the term globalisation, there's a broad agreement that although globalisation may be a much debated topic, there's no argument from the view that we live in a period of globalisation. Globalisation refers to the ongoing global trend towards the freer flow of trade and investment across borders which results in integration of the international economy. This interdependence of buyers and sellers in countries around the world results due to a number of factors. Mainly the maturation of the Eurocurrency markets since the 1960s, desire by financial institutions to expand their lending and other activities outside geographic boundaries...
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