Oil continues to serve as the driving force for the intervention in the Middle East as evidenced through the 2003 Iraqi invasion. “Middle Eastern oil continues to be necessary to the United States. American dependence on foreign oil has grown steadily over the years” (PBS), which influenced the 2003 invasion of Iraq: “Before the 2003 invasion, Iraq's domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms” (Juhasz). There have not been attempts to affect change in this trend of foreign intrusion in the Middle East based on economic gains because these economies were dependent on European support, and were
Neoliberalism is the updated version of the liberal economics of the 18th and 19th centuries that supports the philosophy that unlimited competition in a free market is the best way to organise an economy because it forces everyone to perform with maximum efficiency. The neoliberal measures include privatization, deregulation of the economy, liberalization of trade and industry, massive tax cuts, reduction of public expenditure, downsizing the government, removal of controls on global financial flows. Also known as “free market economy”, it advocates the elimination of tariffs on imports and removal of barriers on trade and capital flow between nations. Globalization is governed by the three important international institutions i.e. World Bank, International Monetary Fund (IMF) and World Trade Organisation (WTO).
And this arose from the fact that they both had a similar economic philosophy influenced by the Austrian and the Chicago Schools. While she believed that Britain needed the help of US, but at the same time, she also knew that she should maintain good relations with the Russians and the Soviet. Thatcher played an important role during the Cold War by becoming closely aligned with the Cold War policies of Ronald Reagan. Thatcher firmly believed that the Cold War could be won and that the Soviet could not last forever. She was the quicker than Reagan to notice and was the first Western leader to pronounce that significant changes to come in the USSR after Mikhail Gorbachev came into power.
We all know that United States won World War ll, but how did we win? World War ll was a gruesome war between the Nazi Party and the United States and many other countries. The war lasted from 1939 through 1945. United States was brought into the war when the Japanese bombed Pearl Harbor. The way that the United states won the war was because our military is strong, we had good allies, and great leaders in office and on the battlefield.
Employment provides the financial security which a person can use to live a happy and healthy lifestyle. This is further enhanced when the work is good for example the hours of work are such that a person can have more family time and exercise. This can result in improved health outcomes of an individual. The condition of lower-status work tends to be poorer than higher status work. A flexible workforce is seen as good for economic competitiveness but brings with it effects on health (Benach & Muntaner, 2007).
At the same time, the world has also become interdependent due to trade relations. Major countries in the world trade with each other so as to ensure maximum productivity. Trade laws have been established through international organizations dictating the extent of trade relations. Imports
Market driver has provided a stage for nations to conduct international trade. Meanwhile, nations are able to converge their cultures with other countries (for example, working attitude) as they have to learn and adapt to the culture of other countries in order to conduct international trade
4.0 Implementation 4.1 Broader perspective Globalization is affected by various factors that drive towards its existence and formation in the society and a set of these macroeconomic factors. As per this analysis we can get an overview of the current economy of the country that helps the researcher to make relevant suggestions and recommendations that can benefit the economy as well as society to make them believe and trust that the globalization enhances their behaviour and life style. PEST Analysis: Source: Visual.ly website PEST Analysis of Saudi Arabia Political environment Giddens and Griffiths (2006, p. 59) states that mainly there are three reasons why politics has become one of the main drivers of globalization.
However, although this resulted on countries being more diplomatic and did allow an increase in trade, warfare did not end here. It was only after World War II in 1944 that the western economies gathered at the Bretton Woods Conference, to create a new international monetary and financial order, with the IMF and World Bank acting as political drivers to promote macro-economic integration. The two international institutions aided in the acceleration of regional integration and a global market place. It was the continuous development and success of reducing barriers internationally and promoting trade by both the Kennedy round, 1963, and the Tokyo round, 1975, that the Uruguay round in 1993, was developed, creating the GATT (presently known as WTO); established to liberalize international trade on the principle of non-discrimination and elimination of trade barriers by multilateral negotiations (Neaumann, 2009). Finally, came the Doha round in 2001, to further liberalize global trade and investment, resulting in the