In thinking about the consequences of globalisation, it is necessary to keep in mind that the same set of policies does not lead to the same results everywhere. While globalisation has led to similar economic policies adopted by governments in different parts of the world, this has generated vastly different outcomes in different parts of the world. It is again crucial to pay attention to specific context rather than make simple generalisations in this connection.

Which of the following statements is correct?

None of the statements is correct.

Globalisation, however, does not emerge merely because of the availability of improved communications what is important is for people in different parts of the world to recognize these interconnections with the rest of the world.
Currently, we are aware of the fact that events taking place in one part of the world could have an impact on another part of the world. The Bird flu or tsunami is not confined to any particular nation. It does not respect national boundaries. Similarly, when major economic events take place, their impact is felt outside their immediate local, national or regional environment at the global level.