Define the concept of globalisation:
Globalisation by dictionary definition is as a term used to describe the changes in societies and the world economy, which is a result of dramatically increased trade and cultural exchange. Economically speaking, it is mainly looked at exclusively to do with the concept of international trade and marketing.
But there is a lot more to Globalisation than just the surface appearance of international trade. Globalisation has been one of the most hotly debated topics over the last decade or so due to its perceived often immoral practices performed by multinational companies. Some say globalisation is the best thing that has happened for world economies in history; whilst on the other side of the spectrum there is also quite a large anti-globalisation movement.
In essence globalisation involves the breaking down of trade barriers between countries in order for it to be maximized, and hence living standards/product choices heightened within countries.
Globalization
English: Pfizer, the pharmaceutical company viewed...
English: The old and the new Farm track leading to...This concept can be worded as trade liberalization. Technology is now becoming more readily available to 2nd and 3rd world nations.
Three separate factors which have contributed to the emergence of Globalisation.
One of the largest factors and possibly the key to the phenomena of globalisation is the concept of multinational corporations. Over the past 20 odd years or there about, large corporations in one country have attempted to expand business by becoming multinational. This is now very common, and is one of the most debated issue within globalisation. The question is, can it be justified for a big corporation to move into a 3rd world country, build factories and produce goods at the lowest possible price? Whilst it creates jobs and moves that countries economy away from lower sectors of production (perhaps agriculture), morally speaking, it is quite difficult to justify. Wages are about $2...