Nobody downloaded yet

Globalization and Economic Development - Essay Example

Comments (0) Cite this document
Summary
Globalization and Economic Development GLobalization and Economic Development The products and services each country and its people produce and provide are essential for its survival as a nation. Excess capacity translating to excess production normally earns for the country revenue from exports to another country…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.1% of users find it useful
Globalization and Economic Development
Read TextPreview

Extract of sample
"Globalization and Economic Development"

Download file to see previous pages However, extra legal means of bringing products into a country normally result to an increased in smuggling activities. These practices will eventually corrode if not slowly disintegrate the economy of the country. “Corrosion in the system of trade relations does not produce a blow-up from one day to the next. When nations find the rules too constraining and no longer appropriate to their needs they find ways of flouting them. The effects tend to be more subtle and show up over time in a gradual retreat from the cornerstone principles of multi-literalism and non-discrimination” (Rodrik). Trade in a globalized economy provides equal opportunity for all players as provided for by the WTO and the GATT. Goods can now be produced in another country without too much impact on the price and in fact can be lowered since products from another country can be produced or assembled locally and be given the same benefits as that of the local brand. Adverse effects of short cuts and other extra legal means of trading is not only avoided but governments earn the advantage of taxing the goods. Healthy trade between countries are assured by the WTO and GATT for member nations providing equal opportunity for the products with that of the local products. ...
However a move towards ensuring that making each country a member of WTO and compliant to GATT, BASEL and other UN directives remains a challenge. WTO and other agreements prevent several archaic trading imperatives that existed and accepted in the better part of the last century. These trading practices sometimes result to war or conflicts because of its predatory nature. Equal opportunity is given to all players that wish to transact with the other WTO members preventing favouritism and preferential treatment. Globalization in its purest form makes it more efficient for trade to be concluded by moving manufacturing plants to where the market is. Long are the days where waste in the manufacture, shipment and distribution of goods are left not only to normal market forces but also to the devices of the elements and environmental factors because of the lag in shipment and distribution. Positioning for better prices due to a more efficient manufacturing process within the country where the market is if not where the actual raw materials are manufactured will also be more competitive. A more sustainable manufacturing process that will safe guard the environment if not reduce carbon emission. Corporate strategy that could include reduction of operating expense while increasing the level of quality is due to globalization. Technology as an enabler of globalization makes it easier for company to monitor and manage their remote facilities or offices that could be on the other side of the globe. In sum, decrease operating cost, immediate response to market forces that dictate price and supply under an economic environment that do not discriminate between local and imported products when it comes to tax will make the global economy more prudent. Another ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Globalization and Economic Development Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/history/1437400-globalization-and-economic-development
(Globalization and Economic Development Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/history/1437400-globalization-and-economic-development.
“Globalization and Economic Development Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/history/1437400-globalization-and-economic-development.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Globalization: Impact on Production and Development of Contemporary Education Policy
Globalization: Impact on Production and Development of Contemporary Education Policy. There has been increasing concerns over various aspects of globalization. Amongst the recent aspects is the effect of globalization on production and development of contemporary educational policy.
16 Pages(4000 words)Essay
India's Globalization and Economic Development
This study will also seek to address the role of identity politics and Diasporas in the global economic system and development of India. For this study to give out the relevant analysis of globalization of India, it will examine the extent and nature of integration of this country into the global economy along different dimensions that will include flows of capital, goods, services, and migration of people.
5 Pages(1250 words)Essay
Economic Globalization
This may according to many lead to the dissolution of national identities and macro influences on the state and the economy tending towards a worldwide convergence towards a single system. (Weiss, 1997 , see Reich, 1990; Cable, 1995). The concept of the 'global' corporation has been captured in the following phrase 'It has been preceded in the last 30 years by a string of synonyms such as: international, inter-territorial, multinational, transnational, and world-wide' (Weiss, 1997 see Hu, 1992: 120).
8 Pages(2000 words)Essay
Economic Development Essay
The world is becoming more and more interdependent and whether you think globalization is a good or bad thing, it is here to stay. Seeking to explore the present international economic situation with an eye to the main theoretical approaches to the globalization phenomenon, different theoretical paradigms will be analyzed.
7 Pages(1750 words)Essay
Economic Development in East Asia
While countries like Japan and china started growing at a rapid speed, some countries took their own time in improving. Modern economy started prevailing in almost all these countries. China and Japan opted only at a later stage. ASEAN members including Malaysia and Indonesia preferred the modern economy and worked towards it from 1970's.(Kirby 1967).
9 Pages(2250 words)Essay
Globalization, economic sovereignty and Middle Eastern development: from principles to reality
rtant economic theories that support or challenge the importance of globalisation for economic sustainability were explored, specifically as they relate to the economic development and political sovereignty of the Middle East. This theoretical discussion of economic growth,
6 Pages(1500 words)Essay
Globalization, Economic Sovereignty and Middle Eastern Development: from Principles to Reality: with references to Jordan and Saudi Arabia

The research will involve an exploration of the notion that economic sustainability of the Middle Eastern region in the 21st century requires full participation in the global financial and industrial markets as well as the potential effects of these economic trends on political and economic sovereignty in this region.

1 Pages(750 words)Essay
Economic globalization in China
It opposed the global economic order, political order and the major global institutions such as the IMF and the World Bank before the reforms started in China (Overholt, p.3). Earlier, China like socialist countries perceived globalization as a product of
5 Pages(1250 words)Essay
Economic Globalization
her hand, economic globalization refers to the increased linkage between livelihoods as well as development of services and products on a global level. There is a lot of subjectivity about the concept of economic globalization and there is no universally acknowledged concept as
2 Pages(500 words)Essay
Internation study-proposal
Globalization creates job opportunities and thus reduces the unemployment crises in most developing nations (Kose 204). Globalization brings in international companies and hence increases the government’s revenue. Increased government revenues translate into better
1 Pages(250 words)Essay
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.
Let us find you another Essay on topic Globalization and Economic Development for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us