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Borderless World

From an economic perspective, changes in government policies, coupled with the considerable advances in technology have allowed translational networks to take hold – hence supporting new and extravagant claims of a “borderless world.” Firstly, in terms of production, new, flexible options and advanced communication techniques have allowed multinational enterprises and firms to “send out feelers” across the globe all them to straddle many countries whilst operating on an integrated production system. This process refers to the assembly, marketing and selling of products in three separate countries, hence lowering costs such as taxes and labour in one country whilst benefiting from a substantial mark-up in another. In the area of trade, globalisation refers to a considerable increase in the stability of vital trade supporting institutes, and an increase in the impact of trade in terms of domestic economical activities. In a addition to this it refers to a faster and increasingly efficient means of transporting goods and services throughout the globe. Finally, by courtesy of new financial instruments there has been a substantial leap in allowing a wider diversity of products to be bought and sold throughout the globe.