Globalization involves the increasing interconnection of local and nationalistic economies across the world. It increases border movement of goods, people, technologies, ideas and services throughout the world. It lets other countries to join the rest of the world and become part of worldwide interrelatedness. As the biggest companies are no longer national firms but universal partnership. In my opinion, globalization is an important issue, as it allows countries to collaborate politically, socially and economically.
Industrial growth brought many changes to the transportation systems in the last 19th century. The creation of transportation systems such as steamboats, canals, and railroads made it much easier to deliver, and receive goods and services in the late 19th century. The biggest development of these transportation systems was the railroad, which would become to be known as “America’s first truly big business”. Railroad systems were able to transport goods, and services much faster, and further than any other transportation systems, which led to a mass amount of goods and services being sold, which in turn led to businesses, and business owners making more profit on selling their goods, and eventually turning their businesses into
Globalization is a change of a country in order to exchange and work with other countries or in other words is a process of global economic, political and cultural integration. Globalization play an integral part in developing countries, it creates more opportunities as well as more benefits for country’s economic development, especially the industry which receives lots of advantages from the alteration. Industry includes many different fields such as tourism, food processing, clothing, electronic and mechanical products making, etc. Therefore, it is really important for a country’s economy. However, it is not true that all effects of globalization are positive, but it also brings up many new challenges and disadvantages such as competition with other countries for goods, instability in commercial and financial market and also environmental contamination.
The recruitment and exchanges of skilled workers is increasingly gaining importance for the economic development. Knowledge became the driving engine for economical growth. Therefore there is an internationally increasing demand for mobile, and well-qualified workers. The "classic immigration countries", such as the United States and Canada, have a higher degree of experience with the recruitment of well-trained and highly qualified migrants. In Germany we can also observe a slowly draw shift in consciousness of this topic.
According to Hamdi (2013, p.142), globalization has positive impacts on many different sectors of developing countries for example the economy, health system, technology and politics. However, there are many drawbacks that can be observed due to globalization. Such as the increased income inequality and global warming, as the result of increased transportation and production ( Borghesi & Vercelli, 2003, p. 78-79). However we will see later on that there are also disadvantages in health and education
All of these chances exist only in cities so these people would want to immigrate in order to get a job and hopefully one day become successful and rich. Cities are generally the places where the large factories are located. These companies provide huge amounts of jobs and chances to the people coming in. Immigration leads to an increase in the population, therefore leading to another major positive effect in the cities: spaces and places in jobs could be filled to make a more functional society. The jobs that previous people did not take are left for the immigrants who take them and make the previous society better sustained with a larger workforce and a filled job positions.
Businesses nowadays must recognize that their success depends on efficiency and scalability – being able to quickly mobilize global resources and reach the world markets. Globalization has become the key to growing businesses in the twenty-first century. Globalization is the increasing integration and interdependence among countries resulting from the modern flow of people, trade, finance and ideas from one nation to another. The World Bank, a strong supporter of globalization, defines it as, "the growing integration of economies and societies around the world." (Mukherjee, 2008).
Reasons for Formation of Informal Sector 1.) Informalisation is correlated to income and development i.e. Impacts of globalisation on trade openings and employment generation. From the advent of neo liberalization, trade opening became a common phenomenon across countries. This meant that the goods produced in the country could be exported and the producers could earn greater profits.
Thus, making employees be more productive. However, integration of international markets have led to costs for some companies and as well as it benefits others. Therefore, these are a result of three effects of globalization which are the expanding of markets, cheaper resources or perhaps a mixture of the two. ii. Technology: every organization can have the advantage of technology; reason for this is that technology helps organize the work environment.
International trade has brought massive gains to a number of countries around the world. It has helped spread technology, enhanced competitiveness, raised productivity, and gave consumers with a number of choices. These potential gains from trade have motivated countries to aggressively negotiate for trade relations and explore new trade opportunities. For instance, a study which was carried out by World Trade Organization (WTO) (2008), for the period 1950-2007 shows that export increased by 2.7 percent faster than gross domestic product (GDP). Obviously, regional economic integrations played a vital role in promoting world trade in terms of both quantity and quality of goods and services traded.