However, one limiting factor to globalization is the effect of cost reduction; this has been a challenge especially having a great impact on Africa, where the development in agro-technology has been less than adequate, therefore increasing the cost of production which will later be influenced by the price of food or agro-produce in the global market. This leaves most producers especially in developing countries operating at a loss rather than a gain. There is therefore a need to strategize for globalization to be beneficial. It is important for a country to take note of her available resources as specialization towards international trade involves a fundamental change in how a country utilizes its resources. When countries open up to international trade, they tend to grow faster and living standards tend to improve significantly.
Globalization has brought cross-border flows of goods and capital and stronger nationalism and so on. From material form ,globalization refers to the cross-border flow of goods and capital ,through the development stage of translation ,local internationalization and globalization. we can not predict the globalization of national income and loss. It is difficult to have benefits or damages in globalization .Great power ,weak countries ,big countries and small countries can all benefit or suffer. The traditional China was defeated by globalization, but it also emerged from globalization.
The purpose of economic globalization is making country richer, and improving people’s standards of living. Nowadays, economic globalization has become one of the controversial topics in the world. But the truth is almost every country in this world have involved in economic globalization. In my opinion, whatever they are developed countries or developing countries, economic globalization can help them develop their economy, and making their country
The Unequal economic globalization A book review of The Globalization of Poverty And New World Order Xun Zuo 8685997 11 March 2018 Introduction At the beginning of the 21st century, globalization has become a major trend in the development of human society. When people generally feel that the first global era has arrived. In particular, the process of economic globalization is showing a trend of accelerating and deepening in the modern world. Countries and regions in the world have been affected by different degrees and different forms. From the perspective of social and historical development and progress, including economic globalization has positively progressed throughout the globalization process(Rodrik, p.81).
It may not be this generation that sees a depletion of one or more natural resources so we tend to be less concerned. The biggest reason that I have seen for the opposition of globalization is what is does to a countries working class. As companies become global they seek out opportunities to increase their profits. Sometimes this involve moving jobs to countries where the labor is cheaper. Companies also do things to substantially lower the amount of taxes that they pay leaving the bulk of the tax revenue collected by the government to be paid by the
Globalization is the process by which the world and its populations become ever more interconnected and unified. It is a very prominent and important development of our time whereby technology, economies and politics are becoming interconnected. This development is a very real and influential force in determining the future of our world. Its influence reaches as far as political, social, environmental, cultural, security and economic areas, this being one with various and opposing understandings and opinions. Many interpret globalization in the economic sense as an advancement in world economy while others take in to account the costs and dangers associated with its manifestation.
Because some people argue that globalization help poor countries to become economically good state & make their living standards improve ,while others arguing that the creation of the free market concepts enable developed countries to make more money at the expense of poor countries resources, labour & cultural unbalances. So some part of the world helping globalization concepts & others resisting the concepts of globalizations, Actually most of them trying to see a balance between pros & cons of the globalization for example governments trying to manage the trading concepts based on the governmental objectives by creating new
The purpose of economic globalization is making country richer, and improving people’s standards of living. Nowadays, economic globalization has become one of the controversial topics in the world. Someone support economic globalization, and there are also a lot of people who refuse to accept globalization. But the truth is almost every country in this world have involved in economic globalization. In my opinion, whatever they are developed countries or developing countries, economic globalization can help them develop their economy, and making their country better and better.
Due to globalization, the economic borders between countries have vanished around the world since the 1990s and primarily in developed countries the capital accumulation has risen. Thus, the countries can no longer isolate themselves from the rest of the world. After the large scale globalization, all countries had an effect on each other in political, economic, financial, social, cultural, and many other fields. When regional combinations were getting increasingly common together with globalization, the circulation of capital has drastically increased in synchrony with the increase in capital accumulation (Rubio, 2001). During this process while the free flow of capital has risen, trade has transformed into a more liberalized version and consumer habits have gotten to be like each other.