11.6.1—Globalisation

Globalisation is the increasing integration and interdependence of economies and societies through cross-border flows of goods, services, capital, people, technology and ideas.

It can expand markets, specialisation, competition and knowledge transfer, but can also transmit shocks, intensify inequality, weaken bargaining power or increase environmental pressure. Effects differ by sector, country and group.

A global supply chain can lower consumer prices and spread production know-how, yet a port closure or financial shock can disrupt several countries at once.

Globalisation is not a single policy or an automatic benefit; distinguish openness from the distribution and resilience of its effects.