‘’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.
The term globalization, refers to businesses or companies who develop worldwide interactions or start managing the movement of money, people, goods, and ideas within and across national borders. In other words, globalization is connections (economic, political, social, and cultural) between people across the globe. And there are powerful forces that reshape local conditions on an ever-intensifying scale. Globalization has been increasing rapidly due to the integration of the global economy. Organizations are relocating factories.
China is basically known for their electronic goods and growing penetration of internet users helping it much broader way. High demand of electrical goods locally and internationally will definitely going to help China to grow further and maintain it. Technological factors: There is a huge demand for the Chinese electrical products worldwide due to low cost. Though there is a question on quality of product, but people still attract towards cost of margin between Chinese product and other competitor products. Because of low cost Chinese raw material, other manufacturer can able to reduce cost of their products.
“Globalization is one of the most used, but also one of the most misused and one of the most confused words around today” (Dicken, 2007,p.1) . In addition Dicken (2007) indicated that it has been one of the most discussed topics of politician’s academics, business or labour union leaders etc. “Globalization is the process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world” (Harvard University, 2002). Lechner & Boli, (2012) similarly mentions that globalization relates to the process when more people across large distances become connected in several ways. Furthermore this clarifies the ongoing process through the way countries and people communicate and integrate.
There is more than 1000 definition for Globalization all over the world , But the most prominent and widely used definition for it is that " Globalization is a process of integration and interaction among different people, worldwide companies, and governments of different nations, a process driven by international trade and investment and aided by information technology." Which means that globalization is shaping the world in a way that leads to a huge openness and shorten the distance between countries. A lot of people have different opinions about Globalization leading to many debates wondering if it has a good or bad effect on their nations. A s some people see that globalization cause the elimination of cultural identity and privacy
(Lou, 2016) Next, for the World Trade Organization (WTO). It is an organization that setting some rules of trading by all member governments. China is one of the members of WTO, thus Xiaomi can enjoy the benefits from there, for example the lower tax, lower barriers and the trading process is more convivence. For this reason, Xiaomi, would be easy to entry the UK market as the help from WTO which the outputs are less barriers. (Organization,
Globalization is the development of worldwide economy in which resources and products move fairly across national borders. It is also a process of integration among people, companies, and governments of different countries, which is usually driven by international trade, investment and aided by information technology. Both developed and developing countries are taking part actively in globalization process but both countries reacted differently in globalization. This process has the positive and negative effects on employment, culture, education and knowledge, market competition, economic, wealth and human physical well-being in societies around the world. Employment and Poverty The outsourcing of services and manufacturing to developing countries have provided more job
• Since smartphone market is saturated with Samsung/Apple technology, people always tend to look for new things. The technology shift does work well, and many people flock to Xiaomi to try something new, especially since it is much cheaper. • Xiaomi promotes online shopping which erases the cost for intermediaries. Malaysian internet services are getting better by the day, thus, this online platform will allow Xiaomi to reach even more customers. 2.2 Analysis of the Industry
What is globalization? Globalization is the process whereby governments, people and organizations from different countries interact, collaborate, and share their culture and resources. Three factors that drive the process include advances in technology (especially in transportation and communication), fluctuations in international trade, and international investment. (Globalization 101, n.d) Is it good, bad, or inevitable? Globalization is both good and bad in one sense, however, it is inevitable.
Some researchers have gone this far, that they predict that global forces such as multinational companies and other global economics, global culture or different globalizing ideology are so strong that the question arises whether in further there is a chance for an existence of individual national states. Some of people lay great hopes on globalization as a panacea for the various distortions within the economic structure. On the other hand, others - anti-globalists - fiercely hate and abuse in every way all that is connected with the globalization. The subject of lively debates is everything - what globalization is, when it started: there are different views on whether a globalization is a phenomenon of the last few decades, whether the globalization occurred at the time when one nation could establish contacts with other people located on the opposite side of the globe. How does globalization relate to other processes in public life, what are its immediate and long-term consequences.