Write a note to explain the effects of the following: The decision of MNCs to relocate production to Asian countries.

The decision of MNCs to relocate production to Asian countries had the following effects:
(i) It stimulated world trade and capital flows.
(ii) Low wages in countries like China had made these countries attractive destinations for investments by foreign NINCs competing to capture world markets.
(iii) It has also transformed the world’s economic geography as countries such as India, China and Brazil have undergone rapid economic transformation. For example, India has followed policies of liberalization and globalization.

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