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There is also an element of double standards because most of the global corporations operating in developing countries belong to the west (Kwong 21).
The author recognizes the positive impact of globalization as far as environmental development is concerned. Globalization promotes free trade. In an environment of free trade, a country is free to choose a trading partner and the best ways of exploiting her resources. Globalization promotes development of institutions that advocate efficiency in production. Such institutions design laws that protect environment in a business world. Globalization promotes competition amongst global firms, which invest in innovation and efficiency in production. Efficient technology promotes environmental conservation and sustainable growth.
The curve is U-shaped and shows a positive affiliation between economic expansion and environmental dilapidation, for example, pollution, before the curve’s turning point. From the turning point, there is a negative relationship between pollution and economic growth and development. The curve is important because it shows the important of globalization as far as environmental development is concerned.
I support the author’s arguments. This is because they explain the real situation in the global economy. For example, in the developing countries, economic growth increases with the increase in pollution. On the other hand, pollution within developed countries decreases as the level of development increases. This is because companies adopt innovative technology in production, which enhances environmental
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For Strinidal to expand its businesses to other nations it has learned of the environment of the global markets. There are also factors that will affect international business, they are, cultural, political and economic factors. Political events in Strinidal are of great concern because they influence the cost of doing business, the social and economic stability of countries, the accessibility to the human and non human resources.
Four main changes are identified as namely; Change in vision, goal and mission of organization, Loyalty and motivational changes in employees, Business routines and rituals. The study concludes that globalization has both negative and positive effect to the cultural environment of business in China.
Globalization, Its Significance to Challenges of Development and Key Debates. Globalization and related development were considered as the wave of the future when they first appeared to unite countries into one global economy for the mutual benefits, which presumed global integration and interdependence in the technological, economic, social, cultural, ecological and political spheres.
With the phenomenon of globalization, the world has become borderless in terms of minimising the constraints of the distance and nation. That is to say, the economies of nations of world have happened to be highly integrated in a sense that there is no restriction of the flows of goods, services, investments, and other more aspects between and among countries.
Globalization has even decreased the distance between people and has led to increase in economic development of both developed and developing nations. Even though globalization has impacted human life in a positive manner, it has even resulted in impacting human life in a negative manner.
Globalization empowers a view for the entire world as a whole irrespective of the national identity and thus globalization has narrowed the world by bringing people of all nations closer (What is globalization).
Enabling people of one nation to communicate with those of the other nation(s) is the biggest achievement in terms of globalization and development.
First and foremost what is globalization and what are its impact on the world economy will be talked about. The after-effects and the shortcomings of globalization will be narrated briefly.
Globalization does not merely take place upon country states, or communal self-governing parties inside them, and so, it does not, in any uncomplicated way, inflict economic regulation or neo-liberal strategy schedules on communal-democratic governments (Clift, n.d., p.471).
Episodes Three which is entitled New Rules of the Game discussed globalization and its impact in the world economy.Globalization doesn’t just involve the goods and services.Market integration also means the assimilation of countries’ financial markets.Countries like Thailand were greatly helped by the inflow of foreign direct investments.
This political and industrial energy tug has caused massive pollution around the globe, which has contaminated natural water resources and made the land infertile due to landfills. Oil spills and chemical waste in the sea water killed thousands of marine species; deforestation caused soil erosion and lack of oxygen production, which consequently increased carbon dioxide level in the air (Anon, 2014).