What are some possible explanations for the increasing globalization of industries? What will be an ideal response?

Possible reasons for the increasing globalization of industries are:

Technological advancements: As there is fast increase in technological media, there is reduction in the cost of acquiring information, and transferring in less time and no distance.

Different Tax policies: Production factors and low labour costs result in a higher chance of getting foreign direct investments (FDI). A lot many countries compete against each other in Tax regulation to gain good foreign investment projects.

Growth strategies: With a goal to prove their worth globally, many businesses have taken upon themselves the responsibility to expand. Increasing middle class consumers influence fast growing businesses.

Low protectionism: Less protectionism has resulted in the death of old age non- tariff barriers, thereby resulting in rise in global economies.