StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Globalization of Production - Essay Example

Cite this document
Summary
The paper "The Globalization of Production" states that some economists have viewed globalization and the consequent redistribution of production as the rebalancing effect of international trade. This restructuring of the global economy is almost like the ‘economic laws of gravity’. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98% of users find it useful
The Globalization of Production
Read Text Preview

Extract of sample "The Globalization of Production"

Download file to see previous pages

The last century has seen a tremendous growth of interaction and participation of the world in terms of economics, society, culture, and politics. In fact globalization, in the sense of participation of the world communities in exchange of culture, thoughts, theory, and trade has been there for several centuries. Yet the concept of globalization has undergone radical changes in the past century. Now it stands for something more than just the diffusion and osmosis of the economic, social, and political theories, practices, and technologies. Now every country is as much part of globalization as globalization has become a part of every country.

Globalization is as much a universal phenomenon as it is an internal phenomenon. It is not only the exchange of knowledge or the adoption of better technologies. The meaning of globalization is not only limited to the idea of modernization or imitating a certain culture or practice. Globalization in itself has become a culture in its rights and it has managed to bring the world closer. Now events happening in distant geography are part of the local affair of the people. The development of technology has paved the way for this massive spread of cultural and economic activity.

The amount and nature of the interaction have changed fundamentally in the past century due to the rapid technological advancement that the world has seen. There has been immense development in the world of technologies. Transport and logistics have developed substantially. The modes of communication have become extremely complex yet the diversity and speed that have been achieved were beyond imagination for the past generations. The entire world has come under a single network, which has facilitated social and cultural exchange, political interaction, and economic participation to a large extent (Globalization, n.d.).

Free trade as a mode of development has gained wide popularity in the context of globalization and the volume of trade in the world is huge. The global market has become a very important force for the economic development of any country and all the countries in the world are exposed to a certain extent or the other to the climate of the global market. The global markets have a tremendous influence on the financial status and the economic policies of a country. Therefore the sovereign states have to consider the global scenario during the construction of their economic plans.

The emergence of advanced transport and communication system has revolutionized the factor markets. The factors of production are now able to transcend the geographical and political borders of a country at ease. This has made the nations follow the terms of the global markets and the supremacy of the nation-states has given way to the domination of a handful of enterprises called transnational corporations. Globalization has also led to the transformation of multinational corporations into transnational corporations.

These transnational corporations have become the major players in the global economy. They control a large chunk of the global markets. However, their management and capital are not tied to any country. They are managed internationally, from various parts of the world wherever they have a location advantage. Similarly, they can also shift their capital and other factors to places where they can have a factor market advantage. Therefore their production and marketing strategies adopt a global perspective.

Transnational corporations, therefore, cater to the global market by operating globally.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“THE GLOBALIZATION OF PRODUCTION Essay Example | Topics and Well Written Essays - 7000 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1418435-the-globalization-of-production
(THE GLOBALIZATION OF PRODUCTION Essay Example | Topics and Well Written Essays - 7000 Words)
https://studentshare.org/environmental-studies/1418435-the-globalization-of-production.
“THE GLOBALIZATION OF PRODUCTION Essay Example | Topics and Well Written Essays - 7000 Words”, n.d. https://studentshare.org/environmental-studies/1418435-the-globalization-of-production.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Globalization of Production

Evolution of the Global Economic Environment

This paper tells that although the globalization of the economic environment has heightened remarkably over the last two decades, The Globalization of Production has also increased substantially.... The Globalization of Production involves foreign direct investment (FDI) and global trade.... The Globalization of Production accompanies a grand assurance of a new stage of trade expansion from developing nations, like China, whose enclosure in the system creates novel technologies and unlocks new markets....
3 Pages (750 words) Research Paper

International Business

These trends have resulted into The Globalization of Production and the globalization of markets (Hill & Jones 2007, p.... The Globalization of Production increases as companies take advantage of decreasing barriers to international investment and trade to disperse crucial aspects of their production process throughout the world.... Historical background to globalization of production and markets The past half of the 20th century has resulted into dramatic lowering of barriers to international investment and trade....
3 Pages (750 words) Essay

The Globalization of Markets and Production

The paper "the globalization of Markets and Production " highlights that one of the most important findings of this study seems to be the following: in the context of the international community, the promotion of globalization is not standardized, both for markets and for production.... In practice, it seems that several factors have led to the globalization of markets and production worldwide.... It has been proved that there are certain factors that are closely related to the globalization of markets and production but their contribution to the enhancement of the globalization is not similar in countries internationally....
6 Pages (1500 words) Essay

Globlisation and forgen direct investment

globalization of the financial system depends on the position of international business, human migration, incorporation of pecuniary markets, and mobility of capital.... globalization and FDI can be referred to as a new era of sunshine gradually but progressively scattering its rays all over the world, incorporating the nations, bringing people, culture and economies close to each other.... globalization and FDI signify escalating global connectivity, incorporation and interdependence in the economic, cultural, technological, social, ecological, and political orbs....
4 Pages (1000 words) Essay

Ecconomic globalization

“Localization Economies & The Globalization of Production," NBER Working Paper No.... globalization is a phenomena that can be widely described as the increasing disintegration of the national boundaries in favor of the global economy, worldwide political integration and shared culture (Hanson, 2006).... globalization has had varying impacts on the economy of the.... The four areas of the economy that has been impacted on by globalization are growth, employment, prices and trade (Hanson, 2006)....
1 Pages (250 words) Essay

The Usage of Made In for the Segmented Products

The stationing of different arms of production under geographical distinctions allows for the reflection of the challenge they stand to offer with respect to the perspective concept of state recognition.... However, the inclusion of different states or countries in the process of production only assists in the complication of the entire acknowledgment process....
6 Pages (1500 words) Essay

How Has the Globalization of Production Affected the Manufacture Nature

The paper analyses how The Globalization of Production has affected the gap between developed and developing nations.... The factors of production are now able to transcend the geographical and political borders of a country at ease.... (globalization of the Economy- IBRD, WTO, and IMF, n.... Therefore their production and marketing strategies adopt a global perspective.... This paper 'globalization Impact on the Balance between Developed and Developing Countries' sets out to reflect upon the effect of globalization on the manufacture, delocalization, convergence of skilled labor market, the role of Bretton wood system, liberalization and Uruguay rounds....
28 Pages (7000 words) Coursework

The Threats Emerged from the Globalization of Production

From the paper "The Threats Emerged from The Globalization of Production" it is clear that the integration is not just limited to the exchange of goods and services rather it has extended to interlinked financial markets like the stock market and money market.... In such a case, The Globalization of Production would raise the enticement to produce in the regions with comparatively low-cost access to the foreign markets.... hese new attributes of the globalization put an impact on the industry structure, labor markets and the industry location in both national as well as regional economies....
25 Pages (6250 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us