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Globalisation-where do the benefits lie? Introduction The term "globalisation", can be defined as the process by which there is both an increasing world market in goods and services and increasing integration in world capital markets. From a general prospective, the term is usually applied to multinational and/or transnational corporations who locate, often manufacturing operations, in alternative countries (predominantly less economically developed countries such as India and Malaysia) in order to reach new markets, source new reserves of raw materials and to take advantage of cheaper labour , while, in most cases, keeping the company's head-quarters in its country of origin. The governments of such newly industrialised colonies tend to encourage this trend, often by lifting trade barriers and reducing corporation taxes as an incentive, in the hope that positive spread effects (the Cumulative Causation Process-see appendix) of economic development would occur, when taking into consideration the multiplier effect; where an initial area...

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