Most people thought it important and it made the economic globalization more stable. Globalization means that people from. different countries communicate together and work together. The world is becoming globalizing because many people have benefits in globalization. Business men can set up their business in other countries.
It might have surpassed South Africa as the largest economy but this is yet to reflect on its economic standing. Unfavourable factors such as corruption still hinders the growth of the economy and does not show any sign of change. With a high GDP that makes Nigeria the 26th largest economy in the world, poverty should not be as high in Nigeria as it is. Source: World DataBank World bank valued Nigeria’s poverty rate to be around 33 per cent. The poverty rate in Nigeria seems to be getting lower but is unevenly distributed throughout the nation.
The effects of globalization in a global community Ferbryan Cliff Pelleng (016201400060) Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, education and on human physical well-being in societies and communities around the world Community itself is a group of people who share not just living space but also ideas, belief, goods, and solutions to a common global issue. But in a wider perspective, a global community consist of the people or nations of the world, considered as being closely connected by modern telecommunications and as being economically, socially, and politically interdependent. How a Globalization creates a community of a global citizens? And what’s is the effects of Globalization on our local community?
This phenomenon has various advantages and disadvantages depending on our concerns. This paper presents the effects globalization on developing nations, with the focus on the issues: economic state, health system and education. Globalization has benefited the economy of many developing countries, their economy is growing and flourishing. But these processes are progressing slowly so that they cannot keep up with developed countries and the income inequality is rising. Organizations such as WHO, NGO and Doctors Without Borders, which emerged in the process of globalization, opened new possibilities to increase the overall life expectancy and living standards in developing countries by trying to eliminate diseases and provide education.
Globalization also opened up global markets and improvements in intercultural communication, that in turn creates numerous opportunities to gather high quality. Low costing materials and labor. For example, in India outsourcing has bought economic prosperity to it’s people. Thanks to globalization, greater access to foreign culture in the form of movies, music, food, clothing etc. can be pursued with ease.
It has world-class companies, but unfortunately cannot compete with China in terms of manufacturing because of high wages and strong unions. Other issues would be that the country a lack of skills. On the positive side, mining is one of the main drivers of the economy at the moment. Although the demand for South Africa’s minerals have decreased because of the global economic slowdown and low commodity prices. Despite these challenges, South Africa is still an economic powerhouse in its region of the world.
Introduction Have you ever thought how easy it is today to find things from all over the world and how fast can somebody communicate with others and travel whenever he wants? All of them these are easy, because globalization made it possible and opened the way for to many companies to take a step outside their own borders and local markets. This paper will explain the definition of Globalization and will try to point out the reasons behind its spread that globalization increases and the impact that globalization it has on the businesses and their operation strategies. What is Globalization and what influences this global movement? Globalization is a multidimensional and complex process that describes the development of an integrated economy.
The purpose of economic globalization is making country richer, and improving people’s standards of living. Nowadays, economic globalization has become one of the controversial topics in the world. But the truth is almost every country in this world have involved in economic globalization. In my opinion, whatever they are developed countries or developing countries, economic globalization can help them develop their economy, and making their country
Globalization is a process of interaction and integration of different people, culture and nations as a result of trade, politics, migration, investments and communications and is aided by information technology. The process has made the whole world into a global village whereby people can now do business with who ever they want to regardless of boarders. It was a process which began a long time ago but it speed up in the 19th and 20th century. Globalization has brought a lot of changes in the world as more and more information is now being shared without delays and or without barriers. This has improved the well being of the human race especially to the third world countries.
With the use of the internet communication media in sharing the information on the international markets, the customers’ perception towards the global products has been enhanced positively. However, Paul and Rana (2012) argue that the ease in the availability of the information is a major factor in preventing local customers from engaging with the international market. He explains how international companies had the strength of communicating about their products due to the financial and social muscle. With the rise of the social media and other forms of internet communication, local companies have the ability to not only communicate about the products or services that they offer, but also to offer information on why they are the best compared with the international competitors. Consumers’ behaviour and attitudes towards the international marketing is also influenced by their learning capability.