Introduction To Globalization

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INTRODUCTION Globalization is a very large entire marketplace towards integrated and interdependent world for improving efficiency and yields and reducing production. It is a complex process which link people, businesses or other organizations around the world to develop trade, investment, technology, education, information and communication or begin to operate as an international scale. It is same as Robert’s finding (2011), which stated that globalization is the process of interaction or integration among people, companies, government by different nations, through international trade and investment and aided by information technology. On the other side, the information in the Investing Answer (n.d.) has defined that globalization is an integration…show more content…
Every economic activity such as village markets, urban industries, or financial centres have extended besides national boundaries of the same market forces. For current globalization, the foreign direct investment, the decrease of trade barriers or other economic reforms can be largely constituted for by developed economies combine with developing economies. Other than that, during 2000, there are four basic aspects of globalization, which are trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge that had been identified by the International Monetary Fund…show more content…
Increased inequality Increased inequality means that the existing of income inconsistency between countries across the world. According to King & King (2005:199), globalization might not help in generating more wealth in developed countries, hence the gap between world’s richest and poorest countries still exist as today’s. On the other side, even the developing countries are directly concerned in globalization, their main decisions are still normally left out. As the developed countries are able to influence the economic and social policies in developing countries, hence, they have greater wager in affecting the world economy. 2. Workforce With globalization, the workers will be able to move from one country to another. This would led to those who have higher qualification of professionals moving to developed countries which consists of better pay incentives. Therefore, the developing countries facing the problem of the level of professional skills and expertness of the labor. At the end, the developing countries will experienced the scarcity of qualified worker to operate local
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