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Globalization - Essay Example

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Summary
Globalization is the increasing liberalization of international trade and investment as well as the resulting growth in the unification of national economies in terms of not only goods and services, but also of ideas, information and technology that has enormous potential…
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Globalization

Download file to see previous pages... It is all about the monumental structural alteration occurring in the procedures of production and distribution in the global economy. This requires the existence and development of an information and communications infrastructure that is advanced and based on a proper communication system as well as better methods of dissemination of information.
Globalization has brought about a shift in the traditional balance of power between nations in the global arena in that it has broken many barriers that restricted the movement and reach of people through networking and has given more power to distinct entities to influence both markets and the nation-states thus producing a super-empowered individual (Gilbert 173). Beyond all numbers, globalization has at least three impacts to all countries that embrace it in that it leads to fast economic growth, reduction in poverty and increasing more job opportunities. It pulls the countries out from their detachment into the competitive world that leads towards new collaborations and unity thus greatly reducing the distance and isolation that exists in the world into a global village making life extremely easier and comfortable.
One of the most crucial advantages of globalization is that it has led to the generation of very many employment opportunities to the unemployed as well as income generation to the people in the host country as the migration of people has become easier thus leading to even better jobs opportunities. Similarly, globalization has expanded the capabilities of people to increase their ability to lead long and healthy lives, that has enabled them to cultivate and make good use of their talents thus affording them lives of dignity and self-actualization. This is done by increasing the stock physical capital, new technologies, changing institutions, altering incentives among others (Marmolejo 103). The formation of employment and opportunities to acquire ...Download file to see next pagesRead More
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