Globalisation refers to the increasing international interdependence of economic agents. It is concerned with the increasing integration of economies across the world. Globalisation has arguably brought benefits to many consumers and workers, however has also incurred a negative effect on some consumers, workers and the environment. Many consumers have benefitted significantly from globalisation. The classical view is that globalisation has created competition which has led to a reduction in prices. In other words, consumers have had a far greater market to choose from, and where businesses have kept costs low: such as by taking advantage of low-pay workers in 3rd world countries, prices have been kept low. This has particularly been the case for MNCs. A new rail link that runs from China to London shows how China is making use of the Western market to sell goods cheaper than Western markets are able to offer. This means that consumers in the Europe are spending less on goods &a