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Globalization: Impact on Government, policy, and political decision making - Essay Example

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This paper talks about the globalization phenomenon and describes revolutionary changes, that were brought by this process the world over. Globalization can be described as the process through which economies, societies, and cultures are exchanging their resources for mutual benefits…
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Globalization: Impact on Government, policy, and political decision making
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Download file to see previous pages en globalization was initially appeared in the global arena, China watched it suspiciously since they perceived some hidden agenda at the back drop of globalization. China earlier perceived globalization as the continuation of capitalism2. China thought, globalization as an effort by the capitalist countries to loot the resources and wealth of other countries. So, China stayed away from globalization initially. However, after few years from the introduction of globalization, China’s illusions and misinterpretations about globalization started to melt down. At present China is the number one exploiter of globalization and they opened their economy and market wider than any other country in the world for foreign direct investment. Moreover, China is the number one trade partner at present for United States. The ideological differences or the different opinions on global issues never prevented China from establishing close trade relationships with America. In short, globalization succeeded in bringing contrasting cultures and political systems much closer. According to Lauder et al (2006), many people tempted to think globalization as the “process of transportation of jobs, ethnic and cultural composition of nations etc from one country to another”3. The above assumption is true up to certain extent. As stated before, many Chinese people are currently working in America and many Americans are doing business in China at present. It was difficult to think of an American firm establishing business ventures in China, a couple of decades before. Earlier, China disallowed the foreign direct investments in their soil because of their suspicions about the intentions of the foreign firms. However, at present China realised that without foreign direct investment, a heavily...
This paper offers a critical analysis of the impact, that globalization has on different governments, their policies, and the process political decision making. Globalization can be considered a process, through which events, decisions and activities in one part of the world can come to have a significant consequence for individuals and communities in quite distant parts of the globe.
Economical, cultural and political circles underwent tremendous changes as part of globalization. Globalization forced many governments to change their policies and principles to exploit the new opportunities.
Earlier countries were more selfish in their approaches and concentrated only on safeguarding their own interests. However, globalization succeeded in changing such selfish beliefs and collective growth is accepted as the slogan as part of globalization.
Free trade or free market, special economic zones (SEZ), export processing zones (EPZ), outsourcing, offshoring are some of the new terms brought to the world by globalization.
Even amidst many of the brighter sides, globalization brought many controversies also. Governments forced to make lot of changes in their policies and decision making in order to strengthen the cooperation with other countries.
Poor countries failed to utilize globalization properly e Outsourcing and offshoring like new business policies caused the capital outflow from one country to another. The global trade imbalances are causing problems to the regional growths.
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