Global trade is the international exchange of products and services between different countries or territories. It involves the activities of the government and individuals and is usually formed by exports and imports. For many countries, global trade is a significant share of the gross domestic product (GDP). The importance in economic social and political life has been increasing rapidly in recent years. This increase can be mainly attributed to globalization and multinational corporations.
Furthermore this clarifies the ongoing process through the way countries and people communicate and integrate. In which has caused impacts to the world in numerous of ways i.e. socially, economically and culturally. For instant globalisation is seen as a means for economic development. This refers to the integration of “the domestic economies with the world and the inevitable consequential increase in economic interdependence of the countries through trade, financial and investment flows, freer factor movements and exchange of technology and information.” (Ogbabu & Ameh, 2012, p.49).
The second is with the development of the economy, international trade has grown rapidly cause the economic globalization. The other one is with the development of internetwork, the people can easily realize their social division of labor through the Internet. （Thomas, 2007）In addition, it is not only the economic globalization, but also has politics, science and technology, politics, law, management, culture, ideology, interpersonal relations, international relations. The essay will discuss three of the cause of globalization and outline some of the effects. At the first stage, when the
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.
Through these, it helps to have more international trading and increasing employment rate. By embracing globalization and international finance, it will make any countries across the globe to be better and allowing more trading and investments from foreigners to help the economy of any country. In real life, businesses faces increasing competition, because of this, its workers may also be discouraged because of such. There are reasons according to Tverberg (2013), why globalization can be a huge problem. Globalization quickly uses limited resources.
This is what we call as Economic Globalization. Economic Globalization is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital (“Economic globalization,” 2016). One country to another will do export and import to fulfill their needs and this leads to the economic policies that both or more countries made. Of course those countries want to get more benefits more than just fulfill their needs, they will make some agreements about trade between them such as, lowering the
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
Privatization is necessary for expanding one 's economy and enhance the global connectivity. Privatization strengthen the private sectors. It may be noted that privatization changes the role of state and not necessarily reduces it. The monitoring and regulation of the privatized system, discussed later, is a complex and difficult job. Globalization: Today, Indian economy is open to foreign financial investments, imports of capital equipment, technology and personnel, in almost all sectors.
Is globalization ending? The Cambridge Dictionary defines globalization as «the process by which particular goods and services, or social and cultural influences, gradually become similar in all parts of the world». One of the key processes in the development of the global economy at the turn of the XX-XXI centuries is the progressive globalization. Globalization is an inevitable phenomenon in the history of human-being , that the world, as a result of the exchange of goods and products, information, knowledge and cultural values, becomes more interconnected. However, over the past decades, the pace of this global integration has become much higher and more impressive thanks to unprecedented achievements in such areas as technology, communications,
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