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Implications of Globalisation for Palomia - Dissertation Example

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This paper “Implications of Globalisation for Paloma” will mainly focus on depicting the probable implications of globalization on the country (both positive and negative) and make suggestions accordingly on whether to follow the suggestion in Paloma's policy-making emphasizing development…
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Implications of Globalisation for Palomia
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Download file to see previous pages The country is engaged with the export of products primarily including raw materials. However, the country has been recent of the view that it needs to diversify as well as increase its export base in order to ensure maximum growth in the economy and ensure rapid development of the nation altogether. In this particular regard, the World Bank and IMF have recommended the country to open its policies towards globalization, which will further allow it to ensure maximum development in the country. The organizations also urge that with maximum globalization, the country will be able to have more trade options open for it, more foreign investors entering in the country generating greater Foreign Direct Investments (FDIs) along with better knowledge transfer amid the population of the nation. This will also ensure that the country is engaged with rapid economic growth and development in a comprehensive manner altogether (Wade, 2009). However, in order to implement these policies, it would be crucial that the government of Paloma evaluates the positives and negatives that can have a substantial impact on the country one way or the other. These aspects are described in detail in the later section of the discussion.
Importance of Globalisation for a Nation for Economic, Social and Cultural Development
Globalization is one of the most widely depicted concepts in the modern day scenario where countries are eager to gain a reputed position for themselves in the world. The term ‘globalization’ refers to the approach of the nation towards integrating with the global world with regard to the exchange of ideas and products along with cultural implications. Notably, with the advancement of technology, transportation, and information technologies, globalization has reached to the peak all over the world in the current scenario. Globalization can also be regarded as the free movement of people, products, funds and other aspects associated with the day-to-day lifestyle choices of humans (Faulkner & Segal-Horn, 2004). ...Download file to see next pagesRead More
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