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International Business Globalization and Income Gap - Essay Example

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The essay "International Business Globalization and Income Gap" dwells on the problem with globalization. In the twentieth century, globalization has become one of the most important contemporary phenomena. The term was initiated in 1983 to describe the changes that were occurring in the economy…
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Download file to see previous pages The author describes an effort to integrate or transverse some of the national boundaries that reduce the national barriers and the businesses can compete for productive inputs and customers across the globe. In other words, it can be explained as an effort to reduce national barriers and establish a broader market that permits all buyers and sellers to persuade business activities at a global level. The process of globalization can not only be identified as a buzz word but it will provide opportunities to accelerate the pace of major business.
Despite the fact, globalization will provide greater opportunities for the business to expand its markets, improve the pace of its performance and productivity. Globalization still remains to be one of the debatable and controversial issues in contemporary times. Researchers claim that globalization is an excellent concept to boost up economic prosperity but the elimination of national barriers cannot be attained. It has created a confusion and paradox situation for the business entities to integrate its operations at a global platform. The statement ‘The problem with globalization is that there is not enough of it’ indicates that the concept of globalization is not absolutely attainable that has created the problem itself. Therefore, the present essay paper will critically analyze the advantages and disadvantages of Globalization to interpret the statement.
Werhane (2012) explains globalization as an integration process of national economies within the international economy, through trade flows, foreign direct investments, short capital flows, technologies flow and labor forces (Werhane, 2012). The integration of the economies has increased diversity, complications, and controversies because of its multidimensional nature. Sebastian and Elisabeta (2014) Claim that with the passage of time globalization stresses the increasing process of integrations among countries within regional economies and political structures, with respect to the globalizing economy (Sebastian & Elisabeta, 2014).  ...Download file to see next pagesRead More
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