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Economic Globalisation: Positive And Negative Aspects Of Globalization

1086 Words5 Pages

Arguments for Globalisation

Globalisation is a term that means that the local phenomena is transformed into a global one. Globalisation refers to different countries connecting together to link information and money. In addition to products and services produced in one part of the world are no readily available all over the world. This transformation has brought about positive and negative aspects to the world and the society we live in today. This paper will discuss the positive and negative aspects of globalisation. According to Simon, (2002) globalisation refers to an increase in global relationships related to culture, people and economic activities. Globalisation presents itself in a way that links itself to the distribution of goods and services.

In the twentieth century globalisation is viewed upon in relation to the economy and technology. This perception is therefore linked to the internet and international markets linked to global institutions for example the IMF and WTO. Globalisation has a huge impact on the economies today worldwide. This can be in the developing or developed countries. An important factor that must be discussed here is economic liberalisation. To define economic liberalisation it is important to note that it is a process for achieving unobstructed economic activities. Basically, its main aim is to remove all barriers in relation to trade and investment while at the same time offering freedom from the economic activities (Onyekpe, 2001:52,

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