Economic globalization reduces the possibility of conflict - Essay Example

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In a globalized economy, nations around the world are free to interact and conduct business within common markets. The supporters of the idea that…
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Economic globalization reduces the possibility of conflict
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Download file to see previous pages From a critical point of view, when countries learn to depend on each other, they form long lasting relationships as the feel that they need each other for survival. On this note, they are committed to maintain harmony to ensure that this interdependence works out for all of them and that each country can uplift their economy. Since countries are unique entities with different resources, it is true that globalizing the economy will ensure that conflicts are reduced and each country can depend on its allies. On this ground, it is clear that the harmony that the world enjoys today is a result of health relationships that have resulted from the formation of a global economy.
The end of the 20th century and the 21st century is a time when the world has experience harmony as a result of reduced conflict. The world economy structure has changed due to the formation of a global market where countries are free to venture. Unlike in the post war period, countries are free to invest across the world due to reduced barriers of foreign business entrants. As Barbie (1996) points out, there has been great economic integration to the extent that it is impossible to tell where a product was manufactured. Barbie gives the example of goods that are “made in China” but have actually been produced through operation integration. Countries have come together to venture in common markets to the extent of collaboratively producing one product. As countries exhaust their domestic markets, they are free to invest in foreign markets in the onset of market liberalization. In the 21st century business organizations have ventured in international markets to increase their profits by investing in unexploited markets. This kind of economic integration has resulted into reduced rivalry as countries learn that the domestic market is not enough for economic development. As a result, the new century has seen the number inter country wars reduced due to the economic cohesion that ...Download file to see next pagesRead More
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