QUESTION

The term ‘globalisation' means integration of economies and societies through cross country flows of information, ideas, technologies, goods, services, capital, finance and people. Cross border integration can have several dimensions, i.e. cultural, social, political and economic. In fact, some people fear cultural and social integration even more than economic integration. The fear of "cultural hegemony" haunts many. Limiting ourselves to economic integration, one can see this happen through three channels of (a) trade in goods and services, (b) movement of capital, and (c) flow of finance.

Critically discuss the economic impact of globalization on one specific sector in Mauritius. (Note: you are expected to identify potential threats and opportunities based on facts and/or assumptions)