Even the international companies bring considerable economy growth to developing countries such as technology transfer and job opportunity. Nevertheless, the multinational corporations also bring problems to developing country like harm human right. However, it is believed that multinational companies bring advantages morn than disadvantages. The developing country should increase the economy in the short term because competed economy can enhance competitive strength in the world and ameliorate the life of developing country people such as using additional finance develops capital
As the rapid growth rate of economic environment in current world market, economic globalization is affecting emerging countries economic development by increasing oversea business activities such as FDI, export-import, also the culture communication between different countries are interacting and influencing each other during diplomatic business activities. The globalization also simulates innovation and creativity in the emerging countries; it encourages the spirits of entrepreneurship and drives the emergence of innovative business models. China as one of the fastest growing countries in efficiency-driven economy system, where economic growths are based upon manufacturing in domestic markets, outsourcing, and exporting products to foreign
Countries like China, japan and Taiwan has improved their efficiency in production and are able to reduce the price of the product, and India being country with huge consumer base and high Demand has become their prime market. Also the goods produced by Indian manufacturer are being exported to neighbouring countries like Bangladesh; Srilanka, Nepal has made India to focus in Asian countries for their trade. Conclusion India has always followed a development model for its International trade since the liberalization in 1990s.The services sector in India has shown a tremendous growth which can be attributed to ever increasing IT sector in India. Manufacturing sector on the other hand has grown in comparatively slower pace. The overall performance of the Indian manufacturing sector has widespread implications for various aspects of the economy; employment, being one of the chief areas of impact.
Globalisation and operate business globally are significant issues for contemporary organisations. Global business is refers as an economic activity that operates in different countries that selling and buying goods and services by people (McWilliams 2010).Businesses are incentivized to sell products and services in foreign markets with technology advancing so fast and international trade expanding. The global business strategy vision is to develop far beyond the borders of their countries and allow businesses to grow (Chan & Justis 1997).Through global business, it helps enterprises reduce costs, expand their market share and become more competitive. There are two impact of global business. One of the impact is multinational corporations
Successful advertising movements such as the “All you need is Ecuador” campaign have generated results and prizes as recently the country was awarded for the best tourism video of the Americas by the World Tourism Organisation. In 2014 all this investment caused a 14% increase in International tourist arrivals, growing three times faster than the world average. There are a number of reasons as to why tourism is beginning to flourish in Ecuador. It has been recognised as one of the countries with the greatest megadiversity in the world per square metre. Almost 8% of amphibian species, 5% of reptile species, 8% of mammal species, and 16% of bird species on Earth can be found in Ecuador, a country that makes up only 0.2% of the world’s land area.
Economical Factors China is seen as one of the most energetic countries in the world when it comes to economic development. The new reforms in 1978 stimulated the Chinese GDP growth from 364 billion RMB to 63.6 trillion RMB within 30 years (chinability.com, 2015). China has persisted to be a primary beneficiary of the world’s destination of Foreign Direct Investment in the latest period. FDI reports 27% of the value added production, 4.1% of national tax revenue, and 58% of foreign trade (usi.edu, 2010). China was facing an economic growth and a huge development, even though the international financial crisis of 2008 left some marks on several aspects of China, above all the export-oriented light industry in southern China (chinapolitik.de, 2009).
4.0 Implementation 4.1 Broader perspective Globalization is affected by various factors that drive towards its existence and formation in the society and a set of these macroeconomic factors. As per this analysis we can get an overview of the current economy of the country that helps the researcher to make relevant suggestions and recommendations that can benefit the economy as well as society to make them believe and trust that the globalization enhances their behaviour and life style. PEST Analysis: Source: Visual.ly website PEST Analysis of Saudi Arabia Political environment Giddens and Griffiths (2006, p. 59) states that mainly there are three reasons why politics has become one of the main drivers of globalization.
Globalization is right for sure countries, along with the ones within the evolved world or global North where wealthy countries just like the U.S., united kingdom, and Germany can sell extra products and items to new markets inside the global South or poorer nations which include the Philippines and Indonesia. Globalization plays a vital function in presenting no longer only products and services but also method of living and the manner of boom and improvement. the following are some of the monetary benefits of globalization in connection to overseas groups: • Reduces worldwide poverty via imparting work to people. • Contributes to the spread of era by way of introducing new techniques of development. • Provides to the profitability of companies and agencies via earnings and global income.
The demand for oil in China has grown to unprecedented levels. It is one of the leading countries in oil demand growth. China’s dependency on oil has surpassed the USA in terms of imported oil in from the Middle East. The increase in oil demand in China is the result of many economic variables, including a booming economy. The implication of such a booming economy has resulted in political shifts on a global scale for China.
The country has got a population of 17.7 million, among which 32% of population is dependent. Kazakhstan has an abundant supply of accessible mineral and fossil fuel resources like Crude Oil, Natural Gas, Potassium, Uranium, Chromium, Lead, Zinc, Manganese reserves, Copper, Coal, Iron, Gold, and Diamonds. The economy of Kazakhstan is mainly dependent on the extraction and export of these natural resources. Kazakhstan, a principal energy producer achieved rapid growth of more than 9% annually in the period of 2002-2004 is because of the high international prices of natural resources provided robust growth in 2005 that kind of market situation helped a newly independent country to take its economy on the path of development. Extractive industries have been and will continue to be the engine of Kazakhstan’s growth, although the country is aggressively diversification strategies so as to not depend on natural resources for the revenue.