The following are characteristics of globalization: There’s greater trade in goods and services, both between nations and within regions. There is an increase in transfers of capital including the expansion of foreign direct investment (FDI) by trans-national companies (TNCs) and the rising influence of sovereign wealth
Globalization has contributed in important ways to the worldwide growth of economy, politics, technology, social and culture of various countries. Globalization is a relative new term used to describe a very old process. Therefore, globalization is the simply the integration and development of the globe. This short literature consist of three parts; the benefits of globalization, the effects of globalization on government and the people of the pacific and finally the ways in which the adverse effects can be mitigated or solved. I.
‘’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.
Globalization is a worldwide process of integration. It’s driven by international trade and investment, and is sped up by technology. There are many different things it affects in different ways, such as economics, culture, politics, etc. Economically, globalization means unimpeded and quicker movement of people, acquisition of capital, labor, products, and currency among nations. Politically, it means better coordination among governments and international and non-government organizations.
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.
In the contemporary society, there are an increasing number of people involved in the globalisation. I choose the topic of international trade. And in the following paragraphs, I am going to introduce what is international trade, other possible benefits of trading globally and the bottom line. (Heakal 2015) Thanks to the international trade that allows us to expand the market for goods and services. And also, as a result of international trade, the market contains greater competition with more competitive price and cheaper products.
WRITING ASSIGNMENT Name: PHAM THI LAN…………………………………………….version…02. Class; 13E18………………………………..peer check………………………………… Topic: The positive and negative effects of globalization Globalization is such a commonly used term in the twentieth century. It simply means that the world has become integrated economically, socially, politically and culturally through the advances of technology, transportation and communication. In the present age, globalization is playing an increasingly important role in our lives. However, whether it is a blessing or a curse has sparked much debate.
Globalization The growing economic interdependence of countries worldwide through increasing volume and variety of cross border transactions in goods and services and of international capital flows, and also through the more rapid and widespread diffusion of technology. International Monetary Fund Globalization today is an inexorable reality and is being built into the process of economic reforms in almost all the nations of the world. It is the process of international integration of products, technologies, human resources, capital, cultures and information. It refers to the increasing integration of economies around the world particularly through trade and financial flows. As such, it is characterized by increasing social and economic openness and growing interdependence between the countries of the world.
For some it means globalisation is gradual integration of economics and societies which is driven by technologies, new economic relationship and the national policies of wide range of actors, including governments, international organisation, business, labour and civil society. For some it means increased international trade and technological advance. Other meaning of globalisation is that growing economic integration at international level based on the activities of Multinational Corporation. And these activities involve financial exchanges, evolving production strategies, marketing rights and responsibility across boundaries of the nation state. Robertson (1992: 8) says that globalisation is understood as process that transform heterogeneous world into a compressed but not homogeneous, at the same time it intensifies consciousness of the world as a whole.
Economy, society, education, religion, psychology, science, and technology are all changing, since they are all reciprocally interconnected. Globalization of world economies has greatly enhanced the values of information to business organizations and has offered new business opportunities. Today, IT provides the communication and analytical power that organizations need for conducting trade and managing business at global level with much ease. To coordinate their worldwide network of suppliers, distributors and consumers, organizations have developed global information systems that can track orders, deliveries, and payments round the clock. Philippines have proved resilient in containing both domestic and external shocks with proper monetary policies and fiscal management.