Globalization refers to the widening set of interdependent relationships among people from different parts of a world that happens to be divided into nations. The term sometimes refers to the elimination of barriers to international movements of goods, services, capital, technology, and people that influence the integration of world economies (John D.Daniels, 2015). Although integrating a global economy is nothing new, but the modern implications in global business are stranger and bigger than ever before (Gemma, 2014). Thus, globalization can brings up some beneficial for the world in every aspects. However, globalization also brings up some negative effect on the business around the world. The purpose of doing this assignment is to discuss …show more content…
For example, the apparels manufactured in countries such as Vietnam and Bangladesh and the smartphones and televisions manufactured in China have increased available to the population of the developed countries (Sakir, 2014). The manufacture of these goods and services in low wages developing countries reduce the manufacturing costs and prices of these goods and services to their consumers. Then, the consumers will enjoy a wide variety of goods and services at low prices that may have improved their standard of living. Others than that, some countries throughout the world have implemented universal health care which insures that all citizens of the country can get access to basic health care when necessary (Griswold, 2000). If a person cannot afford the health insurance, health clinics often offer basic services at lower prices. Furthermore, globalization facilitates the spread of modern medicine which has helped to extend life expectancy and lower the infant mortality in rich and poor countries. On average, life expectancy in developing countries raised from 55 years in 1970 to 65 years in 1997 thus life expectancy has actually fallen in thirty three LDCs since 1990 in large part because of AIDS epidemics while the infant mortality rates in Asia and sub-Saharan Africa have declined by about 10 per cent since 1990 (Griswold, …show more content…
For a developed country, the development of business and income levels leads to the important of globalization. In 1995, the foreign direct investment by 10 major developed countries such as G7, Switzerland, Sweden and the Netherlands took up 85.1% of the total value of foreign direct investment in the whole world (Shangquan, 2000). Globalization creates new opportunities for some country's economics. When foreign investors come over to invest in that country and bring over foreign capital, it will increase the economy’s growth so that the economics condition of that country will improve. Sony Corporation can sell its TV and game consoles with the same ease in New York as in Tokyo. Same going to Intel, Apple, and Cisco also sell their high tech gear with the same ease in Tokyo as in New York (Mourdoukoutas, 2011). The efficiency and opportunity open market is created. Globalization helps solving the poverty problem in poor countries' economies. Export growth and foreign investment have reduced poverty. Poverty has fallen in regions where exports or foreign investment is growing. In Mexico, the poor in the most globalized regions have weathered macroeconomic crises better than their more isolated neighbours. In India, opening up to foreign investment has been associated with a decline in poverty (Harrison, 2006).Throughout the economic of the Globalization, government of the developing nations will use the
I will use this source in my paper to talk about the
Products can now be distributed around the world in an extremely efficient time. People can also travel easier and cheaper. “In 1974, it cost $1,442 (in 2011 dollars) to fly from New York to Los Angeles; today it can be done for less than $300” (Document 2). Globalization has connected the world ideologically, and economically, and caused great exchange in networks through the ways of agreeing among each other. We have seen an increase in the accessibility of products from the efficient system of work spread throughout the
To what extent does globalization contribute to sustainable prosperity for all people? Globalization contributes largely to sustainable prosperity for all people. Sustainable prosperity is when people of any ethnicity,religion or gender have all their needs met, all have an equal opportunity to create wealth and all to have the chance to pursue happiness. There are many groups that try to make sure everyone has sustainable prosperity. Based on the perspective demonstrated the source should be embraced to a certain extent.
The term social determinants of health, can be defined as a ‘set of conditions in which people are born, grow up, live and work.’ These conditions include housing, education, financial security and the environment along with the healthcare service. (http://www.rcn.org.uk/__data/assets/pdf_file/0007/438838/01.12_Health_inequalities_and_the_social_determinants_of_health.pdf) These factors are affected by the amount of money, power and resources that are available at a global, national and local level. Social determinants of health are linked to health inequalities according to the World Health Organisation, health inequalities are ‘the unfair and avoidable differences in health status seen within and between countries.’
However, China’s life expectancy and infant mortality rates are significantly better than that of India. India’s female life expectancy for females being 9 years shorter than in China’s, and India’s infant mortality rate is at a shockingly higher 32.2 deaths per 1000 births (IHME, n.d. E). Although China is still a developing country, much of its health reflects similar values to developed
My goal in this paper is to discuss the impact and role the
To accomplish advancements in health systems, it is essential to strive to eradicate major fatal diseases and to manage poverty. Life expectancies are considered on a global level concerning age, sex, race, ethnicity, socioeconomic class, region as well as the level of education, resulting in alarming statistical data. The objective for enhanced health systems incorporates decreasing the rates of morality. The social gradient greatly contributes to social inequalities around the world. Social conditions, for example, the environment in
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most common example of globalization might be Ebay or Amazon. Nowadays flows of goods and services are not only cheap and fast, but reliable and secure.
It may surprise you that, according to the World Health Organization (WHO) and World Bank, at least 400 million people lack access to essential health services. They said, at least 6 percent of people in 37 low and middle income countries are living in poverty because they must spend the money for health. Health care services is the most importance thing that we need because it is not only for improve the health but also through individual behaviour and lifestyle choices such as quitting smoking, eating the nutritious food and living a healthy lifestyles.
Health care payments are the ones that push 100 million people every year to enter into poverty line since they are short of financial protection. Sub Saharan countries in Africa can be considered best examples for these conditions (Anyamele, 2011). Wealth becomes a prominent factor for health as evident from the above example. It is revealed that income and health have a correlation where the changes in one affect the other.
I. INTRODUCTION a. BACKGROUND: Globalization is a process of interaction and integration among the people, companies, and governments of different countries, a procedure compelled by international trade and investment, and supported by information technology. Furthermore, this process has an effect on various other systems such as on the environment, culture, political systems, economic development and prosperity and lastly, on human physical well-being in societies around the world. “Since 1950, for example, the volume of world trade has increased by 20 times, and from just 1997 to 1999 flows of foreign investment nearly doubled, from $468 billion to $827 billion” (York, 2016). Technology has been another primary driver of globalization,
The aim of this assessment is to reflect on what I have learned this semester regarding the module of Business in Global Context; from the lectures with the professor, the case studies done in class and the three previous patchworks that we worked on. We have learned that there are different internal and external components that affect the business environment, from corporate social responsibility to cultural and institutional framework; organizations must take into consideration all the factors related to the different parts of its environment. For the topic discussion, I will be discussing globalization and how it has affected the global business environment along with the key aspects and the different point of views regarding it.
Through globalization, people around the world share information as well as goods and services. As a result of globalization, consumers around the world enjoy a broader selection of products than they would have if they only had access to domestically made products. International trade has stimulated tremendous economic growth across the globe-creating jobs and reducing price. As globalization accelerates change in technology, more jobs are created and as a result more people are employed thus increasing their purchasing power. As the demand of consumers rise, more and more products are produced to suit the needs and wants of the people.