NAME : AYANDA PERCIVAL SURNAME : HLONGWA STUDENT NUMBER : 216075662 TUTORIAL GROUP : mtbe141 Key challenge in global politics today and how it can be ameliorated. In the world of global politics. Globalisation is one of the key challenges in global politics today. Globalisation is a term which has been used to describe and explain many worldwide phenomena. It has been given positive connotations by those who advocate greater economic integration across national borders.
Developing countries have seen the most change thanks to it, but in order to increment their gains, they must also attract foreign investment (Dollar and Kraay 4). It is imperative for a country who is still developing to globalize in order to bring growth and decrease poverty. There have been multiple examples of success from developing countries as a result from trade, and among them are also Mexico, Vietnam, and Uganda; which have achieved success from their comparative advantages (Dollar and Kraay
According to Bhuyan (2010) even if consumers do belong to a certain cultural context, they are still very different in terms of their needs, attitudes, preferences, behaviour, tastes and motivation which presents a significant variation even after the consumers are confronted with a significant globalization wave. Bhuyan (2010) also explained how consumers and the government in eastern cultures accomplished globalization which is a good example of global orientated way of thinking that can be grown in a particular way with less consequences towards the consumers’ behaviour. Nevertheless, the consumers’ reluctance towards buying foreign products could be lowered by the product quality level perceived by the consumer, diminishing consumers’ ethnocentrism, and indirectly cultivating an opened and global way of thinking (Suh and Kwon
‘’Globalization is a widely and somewhat loosely used term intended to describe the recent and rapid process of intercontinental economic, social, and political integration. This worldwide integration allows people to communicate, travel and invest internationally, and helps companies market their produces widely, acquire capital human and material resources more efficiently share advanced technology, and enjoy economics of scale. While many benefit from globalization, others are hurt economically, some cultures may be harmed, and local environments may suffer.
CRITICAL REVIEW Name: Institution: Instructor: Course: Date: Globalization - Good or bad? Globalization refers to increased economic integration as a result of increased trade and investments which then leads to increased movement of people, goods, services, capital, and ideas across the world. The author of the article “Globalization - good or bad?” under review has highlighted the main reasons why globalization is a good thing that should be embraced by all nations. China and India have been cited as classical examples of how globalization can help transform the livelihoods of poor citizens and make them climb the social ladder into the middle class. In terms of International Trade, the author has described globalization as the
It is important for us to know that globalization make the world more connected. All information about others, now can be accessed and gained. The condition has made globalization become important factor in this modern civilization. Whether it is true or not, globalization brings both positive and negative impacts. In this context we can see the negative impacts like; Employment disparity, cultural deterioration, terrorism, and many others.
Though protectionism has a lot of advantages but in long term protectionism has many dark aspects as it specifies the trade of the country whereas free trade opens the barriers of the trade which welcomes international investors an firms to invest in country that helps in increasing the economy of the country. At present stage Pakistan needs protectionism as it has growing industry but after few time it should open the trade for all of the countries. In nutshell, both of the thoughts have their own advantages and disadvantages according to the conditions and circumstances. Till a specific time of progress a country should follow the protectionism and then it should follow the free trade. In order to
Due to liberalization of trade and deregulation of financial markets the governments have a little control over the flow of capital which facilitated the movement of businesses across the borders. It showed an impact on several organizations and forced them to take innovative steps in order to improve the operational efficiency through introducing quality management system. Thus many organizations have begun strengthening their businesses through mergers and acquisitions to expand their free markets around the world. This increase in the international economic interdependence showed lot of impact on the concept of traditional industrial relations in several broad ways especially in India. Globalization thus showed its impact both directly and indirectly on the industrial relations systems and its actors by disturbing the relation between "capital" and "labour" in each country.
Regulations that the government implement, licensing for example, increases the barrier of entry into the market and decreases ways for the traders to gratify consumer demand. This case is prevalent in the monopoly market. The market is sometimes best to decide how much and what to produce since it has better information and knowledge of the consumers compared to the government. Economic decisions may also not be competent when the government is motivated by political power rather than economic imperatives. Sometimes, economic policies are designed to retain power rather than to ensure maximum efficiency in the economy.
This demonstrates the financial power MNC can possess. As mentioned above MNC invest hugely into local economy and infrastructure in an attempt to make it easier for them to carry out their business, but in the end of the day MNC are there to make a profit and they will do anything to achieve this goal. This financial power allows multination corporations to affect and alter Local and national governments by causing them to compete with each other in order to attract these multinational corporation to come and set them self’s up in their country and in doing so investment money into their economy. To compete countries may offer large multinational companies incentives such as tax breaks or subsidized infrastructure, pledges of governmental assistance or they may violate small environmental regulations. This clearly shows the power they have over there nation states and any other