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Good Influence of Globalization All Over the World - Coursework Example

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The paper "Good Influence of Globalization All Over the World" highlights that that globalization enhances the economic wealth and prospects in the developing nations, the social liberties are improved and there is a more proficient utilization of resources…
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Good Influence of Globalization All Over the World
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Download file to see previous pages The view focuses on how globalization has in fact minimized inter-cultural links whereas maximizing the likelihood of global and inter-state clash, this statement leads to the fact that globalization indeed has many facets which eventually influences the world in various ways. (Appadurai, 1996).
Global production markets started surfacing and provided wider access to the international goods for the companies as well as for the customers, more specifically the movement of products and materials within and between state boundaries. In the last fifty years, a raise of manufactured products greater than 100 times was recorded since 1950 in global trade. Rise of sevenfold during 2000-2007 was recorded for Chinas trade with Africa.
International financial markets emerged and provided enhanced entrance to external financing for lenders were traded each day for the purpose of increasing investments and business. The port of Shanghai held the title of the busiest port worldwide between 2005 and 2007. (Appadurai, 2001).
A world-wide common market was recognized which was based on the exchange of capital and goods. Approximately all renowned international IT companies are located in India and four top IT companies from all over the world were from India and they belonged to the top ten wealthy people and the combined worth of their wealth amounted to 1$160 billion. Compared to China in 2007, India had had 123,000 millionaires while China has 415,000 millionaires.
In the previous years, there was no competition in the job market worldwide and the destiny of the employees was tied to the destiny of state economies. However, the case is different today since after the introduction of information era enhancements in communication. As the employees compete in an international market, remunerations are not much reliant on the breakdown or achievement of the economies and this had a huge impact on the income and distribution. ...Download file to see next pagesRead More
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