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.
Nobody downloaded yet

Globalization. Globalization In Economic - Research Paper Example

Comments (0)
Summary
Globalization is a widely discussed topic in the contemporary world. It is a term that gained popularity in the 1980s and refers to the increased mobility of people and goods across national and international borders that result to improved cohesion across the globe…
Download full paper
GRAB THE BEST PAPER
Globalization. Globalization In Economic
Read TextPreview

Extract of sample
Globalization. Globalization In Economic

Download file to see previous pages... Although globalization is largely viewed as an economic process, it is has been known to have numerous political and social effects as well (Pew Research Center). With regards to the political and economic aspects, globalization is described as the process of decentralization of markets and legal systems (Lynch 6). In relation to businesses, it can be explained as a process in which companies venture into the emerging global markets. Furthermore, entities are taking advantage of the internet to launch their virtual presence in the worldwide marketplace. In most cases globalization is linked to modernization whereby there is transformation of developing nations into developed ones. Internationally, globalization is analyzed in terms of the challenges to the global economy and economic issues in general. There have heated discussions of globalization and its advantages and disadvantages. There have been numerous benefits accruing from the process such as increased trade among nations and dissemination of information world over (Knickerbocker 45). On the flip side there have been drawbacks associated with the process including exploitation of the poor nations, erosion of traditional cultures through modernization and the rising levels of global terrorism. In a nutshell, the process has positive and negative implications on countries world over. This essay addresses the complex concept of globalization and focuses on its economic aspect. It can be noted that global economic activities have become more integrated and economically oriented over the recent past. It takes the form of increased trade among nations, an increase in imports and exports, an overall growth of foreign investments and foreign loans. This is due to the existence of better policies and a friendlier economic environment (Knickerbocker 76). In fact, most modern economies argue that it is meaningless to form one’s thinking on national economies as international trade has become the backbone of most domestic economies in most countries. This has been the trend in most countries that have adopted uniform business environments and legal systems that govern the operations of global markets. This has had both negative and positive implications on the global economy. The first advantage linked to globalization development of the industrial economies that are under the Organization of Cooperation and Development (OECD). It is clear that international trading activities contribute to a significant proportion of the economic production or GDP in most countries (Knickerbocker 77). This is because economies tend to specialize in the areas where they have the highest comparative advantage. For example, if a country is best suited to produce steel, it concentrates on its production and outsources other products that may be expensive to produce in the country. Through specialization, countries are able to make optimum profits from their production activities. Globalization has resulted to intensified trade in the national economies. This is due to the increased flow of goods, services and capital in the global market. This is due to the abolition of trade barriers among nations and uniform regulations on importation and exportation. This simplifies trading among nations and there increasing trading activities in the global economy (Lynch 10). This is facilitated by international trading organizations such as the International Monetary Fund (IMF) and the World Trade Organization (WTO) that make laws and regulations concerning the operations in the global economy. Regionally, bodies such as the European Union (EU), North America Free Trade Association (NAFTA), Common Markets for East and Central Africa (COMESA) and association of South East ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Globalization
Globalization leads to drastic changes in social conditions of millions of world’s residents, expressing itself both in constant shifts in global production and the disruption of ‘usual’ cultural conventions. That is why it is necessary to analyze the problem of globalization, so that the overcoming of its drawbacks may be possible.
7 Pages(1750 words)Research Paper
Globalization
Moreover, there are assumptions that the economic globalization or integration of nationally based economics to form a single international economy via foreign direct investment, trade or capital flow or technology spread (Appadurai, 2000; Garrett, 2000).
3 Pages(750 words)Research Paper
The Effects of Globalization and Economic Expansion on Russia
Despite this, Russia had not gained independence. However, parties from various nations declared that a treaty that had established the Soviet Union1922 had been revoked, and the Soviet Union no longer existed. This decision was formerly announced by Gorbachev at the end of 1991, marking the independence of Russia as a sovereign nation.
20 Pages(5000 words)Research Paper
Globalization
Although the term ‘globalization’ is commonly used in lieu of the term ‘economic globalization’, it has a wider meaning and application in the modern world which covers socio-political and cultural globalization. It is fundamental to have a clear and specific definition of globalization in order to improve sustainable explanations, precise evaluations and effective policies of the same.
1 Pages(250 words)Research Paper
Globalization is worldwide global economic has generated more problem them benefits for society
The globalization and innovation in the Information technology field increased investment prospects for U.S.The elaborate use of IT in the U.S. economy and its acceptance throughout world accelerated the globalization of the world economy.
6 Pages(1500 words)Research Paper
Globalization
Globalization is simply an international process which arises from interchanging of products, ideas, world views and many other aspects of culture. This process has an effect on the culture, on the environment, on the political system, on the prosperity and development of the economy and also on the well being in the societies around the whole world (Globalization101, 2012).
3 Pages(750 words)Research Paper
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
Globalization
Certain foreign corporate take the advantage of this trade practices where domestic companies suffer. So, globalization has both the positive as well as negative impacts in various
4 Pages(1000 words)Research Paper
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
Let us find you another Research Paper on topic Globalization. Globalization In Economic for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us