Indian Economy

Outline the main features of the new global economy. Choose an economy other than Australia (India) and evaluate how globalization has affected its trade, investment and foreign exchange performance.

The global economy can be defined as encompassing all the countries in the world that produce goods and services and therefore contributing to world Gross Domestic Product (GDP). These countries are grouped by their stage of economic development and each maintains their own goals.
The features of the new global economy can be classified into four main areas.
1. Markets – This includes the introduction of new financial markets that are deregulated and globally linked. There is also a growing global market, which involves interlinked services such as banking and transport between countries and also involves the growing emergence of global consumer markets that recognize global brands.
2. New actors – regional blocs (such as the European Union, ASEAN and NAFTA) growing and ga...