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Global Managers - Essay Example

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Summary
It is the name for the process of increasing the connectivity and interdependence of the world's markets and businesses. This process has speeded up dramatically in the last two decades as technological advances make it easier for people to travel, communicate, and do business internationally.
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Global Managers
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Download file to see previous pages The pro-globalization lobby argues that globalization brings about much increased opportunities for almost everyone, and increased competition is a good thing since it makes agents of production more efficient. The two most prominent pro-globalization organizations are the World Trade Organization and the World Economic Forum. The World Trade Organization is a pan-governmental entity (which currently has 144 members) that was set up to formulate a set of rules to govern global trade and capital flows through the process of member consensus, and to supervise their member countries to ensure that the rules are being followed. The World Economic Forum, a private foundation, does not have decision-making power but enjoys a great deal importance since it has been effective as a powerful networking forum for many of the world's business, government and not-profit leaders. The anti-globalization group argues that certain groups of people who are deprived in terms of resources are not currently capable of functioning within the increased competitive pressure that will be brought about by allowing their economies to be more connected to the rest of the world.
The first phase of globalization is to integrate economically most of the populations of the world. The advantages of these phases would be the reduction of geographical inequalities by spreading jobs and business opportunities all around the word. So, the main action of actors of the first phase is world trade negotiation against protectionism.
First phase of globalization:
During the first phase, a global market for all products has been created. The market equilibrium between undeveloped and developed country is obtained by the currency exchange rate. Countries, who have insufficient exported capabilities, have a weak currency. Weak currencies make imported products of developed countries outrageously expensive and prevent the local population to buy them.
Then, according to the neo-liberal economical theory, the effect of low salaries make the country attractive to foreign investment and the local entrepreneurship become more competitive. The local industry exports more and so the country can bear higher salary and the level of importation will so increase.
This classical scenario has one major drawback: foreign currency exchange rate volatility. The currency can adjust strongly against other currency or be linked to a strong currency (the bath and the dollar) and so follow the movement up of the strong currency.
Second phases of globalization:
The second phase of globalization is the constitution of global governance. Today, the United Nations is the first step of the second phases. The purpose of the United ...Download file to see next pagesRead More
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