Political Science · Political Processes in India
Which of the following statements about globalisation is NOT correct?
AIt favours open economies with trade liberalisation
BIt increases cross-border flows of goods and capital
CUnder it all economies are closed ✓ Correct
DIt integrates national economies
Correct answer: (C) Under it all economies are closed — Saying that globalisation makes all economies closed is wrong, so that is the answer.
Explanation
★Saying that globalisation makes all economies closed is wrong, so that is the answer.
★Globalisation in fact opens economies.
★It promotes trade liberalisation across borders.
★It increases the flow of goods, capital and services.
★A closed economy is the opposite of globalisation.
★So the incorrect statement is that all economies are closed.
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