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Globalization and Its Critics - Term Paper Example

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The paper concerns the globalization which is the integration of the world economies, ideas, and cultures resulting from liberalization of markets, efficient flow of information, and integration of economies. This has led to increased interdependence of economies and cultures…
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Globalization and Its Critics
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Download file to see previous pages The stimulates an even platform for all countries in their endeavours to import or export products to or from other countries. The policy allows the sharing of trade and imports or exports without extra cost, i.e., there is reduced cost in terms of trading items between countries (George & Wilding 2002). This policy of globalization enhances relationship and understanding amongst countries globally. In addition, it has created an opportunity for the formation of a formal and informal international institution such as the World Bank, International Monetary Fund, etc. These have played a significant role in ensuring that there is an equitable distribution of resources across the world. Therefore, developed countries are now taken into consideration in the global platform. This has played reduced poverty levels in the world and improved employment rates. A very good example is the Asia-Pacific Economic Cooperation and the European Union. These two represent good examples of free trade and the path towards globalization.
Currently, the world has experienced a lot of transformation as a result of globalization. The communication infrastructure has improved tremendously. Some of the remarkable changes in the communication sector are the entry of internet and social media in the world. In addition, there is a great development of the telecommunication sector in the world. People are now able to communicate with others who are located in different parts of the world. This factor has had a great transformation in the business sector. The entry of internet in the world has opened up a platform for business to interact and market its products at very low costs (Germain 2000). The businesses are now able to get feedback from their clients an aspect that is enabling them to produce goods with features that are demanded in the market. This has played a crucial role in reducing losses that were incurred due to changes in consumer behaviours. Through social media which has been enabled by the entry of internet in the market, businesses have been able to advertise their products to the target market an aspect that has led to the growth of businesses. ...Download file to see next pagesRead More
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