Nobody downloaded yet

The globalisation of trade - Literature review Example

Comments (0) Cite this document
The globalization of trade Introduction Immense changes were taken place in the world after the introduction of globalization and liberalization policies during the latter periods of twentieth century. Business and economic sectors seem to be the major beneficiaries of globalization…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful
The globalisation of trade
Read TextPreview

Extract of sample "The globalisation of trade"

Download file to see previous pages For example, Starbuck was one American company which had coffee shops virtually in every corner of America before the introduction of globalization. Since their operations were saturated in America, they struggled a lot to find enough space in America for expansion. Globalization helped them to expand their operations to overseas countries. In short globalization helped international or cross cultural trade to increase a lot. Globalization of trade brought many opportunities and challenges. Some people argue that international trade helped countries to attract more foreign direct investments so that their economy started grow rapidly. They cite India and China like countries as examples to show how well a country can utilize globalization opportunities. In fact China opposed the “global economic order, political order and the major global institutions such as the IMF and the World Bank before the reforms started in China” (Overholt, 2005, p.3). However, they quickly realized the possibilities of global trade and globalization. It should be noted that these two most heavily populated countries in the world have been struggling for growth before the introduction of globalization. Their huge population size was a curse or barrier in front of their struggle for growth. However, globalization helped these countries to convert this population barrier into a blessing. In other words, these countries are currently the providers of manpower for international market in which manpower shortage is a big problem. “During 1997–2005, China’s average annual growth rate in real GDP was 8.9%. During the forecast period of 2005–2010, it was assumed that the PRC continued its historical growth trend of 8.9% per year” (Mai et al, 2010, p.5). Moreover, “the PRC’s exports increase by about 46%and imports by about 45% relative to their respective baseline levels in 2010”(Mai et al, 2010, p.7). According to Albert Keidel (2008), China’s economy will surpass that of the United States by 2035 and be twice its size by midcentury (Keidel, 2008). Indian economy also showed similar trends during the last few decades as a result of globalization of trade. The globalization of trade has assured the place of multi-national. It has been suggested that the role of such firms is to generate wealth, create work and raise the standard of living in the countries in which they operate. However, critics of globalization suggest that multi-national companies often exploit physical resources and take advantage of labor in countries where legal requirements may be less stringent than in their own countries. This paper critically discusses this statement providing arguments for and against the globalization of trade, taking India and China as major examples. Overview of economic growth in India and China It is often said that global wealth is currently shifting from the less heavily populated American and European regions to the more heavily populated Asian region because of globalization. The above argument seems to be correct when one would consider the economic statuses of India and China before the introduction of globalization. The standard of living and per capita income of Indians and Chinese people have increased a lot in the past few decades. Moreover, unemployment problems in these countries were come down a lot in the recent past. It should be noted that international ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“The globalisation of trade Literature review Example | Topics and Well Written Essays - 5000 words”, n.d.)
Retrieved from
(The Globalisation of Trade Literature Review Example | Topics and Well Written Essays - 5000 Words)
“The Globalisation of Trade Literature Review Example | Topics and Well Written Essays - 5000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The globalisation of trade

Globalisation of Trade

...?Globalisation of Trade Globalisation can be simply defined as the process of incorporating national cultures in order for fostering international trade, direct foreign investment, migration, and technology sharing. Globalisation led to the emergence of a global economy and the rapid cross border circulation of ideas, languages, and cultural ideologies. The very idea eliminated international trade barriers which in turn intensified liberalised cross border trade. As Cairola (2007) points out, developed countries dramatically increased their production levels during the 1950-70 by through international diffusion of mass...
10 Pages(2500 words)Literature review

Free trade, international business and globalisation continue to increase inexorabley if they are so beneficial to our world and

...?Free trade, international business and globalization continue to increase inexorably; if they are so beneficial to our world and promoted as such; why do nations fight over issues such as the trade in bananas Introduction With a sound perception of the most desirable economic specialization in the light of the evolving international demand, the countries can be benefited from trade, globalization and international business. Even with minimal infrastructure, availability of an appropriate range of human resources and enough efficient producer services may reduce many obstacles to economic efficiency (like transaction cost). In the context of low developed countries, international...
6 Pages(1500 words)Essay

The Role of Taxation Policies under Globalisation and Trade

...?Introduction Globalization has visible impact on trade and taxation policies of any countries. Where trade is enjoying great foster due to globalization, it hinder government to impose taxes of their choice independent of market forces. Labor and capital can move from one country to another: They may move from high tax paying region to low tax region.1 Analysts are arguing that whether this development is negative or positive. But increased globalization has reduced government autonomy regarding taxation policies .This paper will point out important discussions regarding how taxation polices are affected by globalization and trades whether they are beneficial for the government and...
42 Pages(10500 words)Essay

International Trade and Globalisation

... and hegemony in a globalized world. London: Routledge. Escobar, P. 2006. Globalistan. Ann Arbor, MI: Nimble Books. Friedman, T. 2000. The Lexus and the olive tree. New York: Farrar, Straus, Giroux.  Hawkin, D. 2004. The twenty-first century confronts its gods. Albany: State University of New York Press. Moore, K. and Lewis, D. 2009. The origins of globalization. New York: Routledge Nester, W. 2010. Globalization, war, and peace in the twenty-first century. New York, NY: Palgrave Macmillan. Smith, C. 2007. International trade and globalisation. Stocksfield: Anforme. Steger, M. 2002. Globalism. Lanham, Md.: Rowman & Littlefield Publishers... ?Introduction Free Trade signifies the free movement of goods, services as well as...
6 Pages(1500 words)Case Study

Trade, Regionalism and Globalisation

...? Trade, Regionalism, and Globalisation - Outline the welfare consequences of tariffs and quotas. Critically evaluate the potential justification forprotectionism measures. 1.0 Introduction The measures used by governments worldwide to secure the performance of national economy are not standardized. Usually, these measures are chosen based on the economic and social characteristics of local market but also the needs of the economy in terms of financing. Tariffs and quotas are common measures for improving market efficiency. Still, the effectiveness of these measures is not guaranteed. The welfare consequences of tariffs and quotas are discussed in this paper. The theories developed in this field reveal...
6 Pages(1500 words)Essay

Globalisation - Fair Trade or Free Trade

...Globalisation - Fair Trade or Free Trade? Contents Introduction The developed countries, particularly those in Europe, favour doling out aid rather than dropping their import barriers—tariff and non-tariff—on goods and services from underdeveloped countries. This problem is especially egregious in African countries, where European policies of dumping, price supports and aid not only prevent the import of agricultural goods to Europe, but result in the active destruction of local farm economies by competing in uneconomic ways with local farmers. This paper concentrates on how European farm support practices undermine poor farmers in some African countries, thus creating a “free...
12 Pages(3000 words)Essay

Personnel management-Part I

4 Pages(1000 words)Essay

Globalisation,Multinational Enterprises(MNEs) and Free Trade

...The process of international integration with regard to exchange of views, products and cultural aspects is illustrative of globalization where national and regional economies, societies and cultures are unified. This plays a crucial role in ensuring harmony among nations as well as enhancing trade networks, communication, immigration and transportation. Globalization primarily focuses on trade, foreign investments and international capital flows, which encourages economic development at a global scale. Globalization is usually associated with economic activities, but with it comes benefits in terms of cultural interactions, and advances in technology. Global integration is facilitated by the existence of a global infrastructure... that...
2 Pages(500 words)Essay

International Trade and Globalisation

...Essay A: International Trade Table of Content Table of Content 2 Introduction 3 This paper labors to discuss the conceptof international trade among trading countries and how such countries benefit from the Principle of absolute advantage and comparative advantage, intra-industry which arises when the country simultaneously imports and exports similar types of goods or services has also been highlighted. A detailed discussion of the trade policy analysis has been shown in this paper mainly on the impact of imposing and removal of trade tariffs on the welfare of producer, consumer, and the government, who benefits and who loses. 3 Principle of absolute...
14 Pages(3500 words)Essay

Impact of International Trade and Globalisation on Corporate Strategy

This word of "Globalisation" is not strange to a lot of people. The globe is getting in imperative respects, a solitary social arrangement owing to globalization which is made up by the association and interconnection amongst the societies and states. Such association and linkage is a multi-dimensional course but not the latest one -in the end, of19th century, there was previously unfasten global financial system, with a great deal of business, including business in currency (Gratton, Hope, Stiles & Truss C, 2008, 45). The blurry perception of globalization has been clearly explained in financial vocabulary. Corporate globalization may be viewed as the movement of items, services, and money assets or savings across global boun...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Literature review on topic The globalisation of trade for FREE!

Contact Us