Globalization is the integration of world economies (Questia, 2004). It affects productivity, imports and exports, technology and growth rates.
Globalization is the integration of world economies (Questia, 2004). It affects productivity, imports and exports, technology and growth rates. Globalization has become identified with a number of trends, most of which have developed since World War II. These include greater international movement of commodities, money, information, and people; and the development of technology, organizations, legal systems and infrastructures to allow movement. More specifically, globalization refers to:
Increace in international trade at a faster rate than the growth in the world economy.
Increase in international flow of capital including foreign direct investment.
Greater transborder data flow, using such technologies such as the internet, comnmunication satellites and telephones.
Greater international cultural exchange, for example through the export of Hollywood and Bollywood movies.
Spreading of multiculturalism and better individual access to cultural diversity, with on the other hand, some reduction in diversity through assimilation, hybridization, Westernization, Americanization or Sinoization of cultures.
Erosion of national sovereignty and national borders through international agreements leading to organizations like the WTO and OPEC.
Greater international travel and tourism.
Greater immigration, including illegal immigration.
Development of global telecommunications infrastructure.
Development of global financial systems.
Increase in the share of the world economy controlled by multinational corporations.
Increase role of international organizations such as WTO, WIPO, IMF that deal with international transactions.
Increase in the number of standards applied globally; e.g. copyright laws.
Creation of local clusters of competence (Porters Clusters) having world wide competitive advantage. (encyclopedia.thefreedictionary, 2004)
Many of these trends are seen as positive by supporters of various forms of globalization, and in many cases globalization has been actively promoted by governments and other institutions. For example, there are economic arguments supporting globalization, such as the theory of comparative advantage suggesting that free trade leads to a more efficient allocation of resources, with all those involved in...
Current Issues essays:
GLOBALIZATION, excellent psper about the integration of the world.Also explained 3 perspectives of the Global Economy. Used exampled from book by Thomas Friedman.
... is free-market capitalism. It is the opening country's economy to free trade and foreign investments. A big part of globalization is also the Global Economy. World Economy is operating of the entire globe, with boundaries far larger ...
... economy, yet all these were without the corresponding results. Since the 1980's,the export of capital and growth of Foreign Direct Investment (FDI)--- investment abroad by multinationals has been far more striking if not surprising than the growth of trade ...
The Effects of Illegal Immigration on the American Economy This essay focuses on the changes to the economy due to illegal immigration.
... quickly becoming a problem. Illegal immigration to America is causing internal conflict in many areas, but one of the hardest hit is the economy. The success of the United States is the sole reason ...
... of global economic governance to maintain the stability of the world economy and demonstrates the shifting balance of power between global markets and nation states. Globalization is ...
... Information and money flow more swiftly and goods and services produced in one part of the globe are progressively more obtainable worldwide. International travel is also more frequent and international communication is routine. However globalization as ...
... the foreign exchange crisis in a short two years and revive its economy and Haiti was not. For Korea globalization meant "a policy of liberalizing and restructuring the country. The intent of the liberalization policy is to adjust to international rules ...
... the global criminal business each year - more than the combined value of international trade in petroleum, steel, pharmaceuticals, meat, fruit, wheat and sugar17. Criminal organizations will ...
What are the causes of rise of fundamestism? is it a revolt against modernity? or a result of it? the answers are here.
... its importance in every single public on earth. There has been an increasing emergence for the institutions that have international missions as a consequence of the brutal regimes on different parts of the world. At the cultural level globalization means ...