In the final part of the book, the author argues that US has a vital role in this new era of globalization. The author urges to make the American model as the basis in creating an economic model for other countries. Aside from that, the author asserted that the military capability of US brought stability for the rest of the world. On top of that. US had heavily influenced the military, finance, film and Internet industry, which brought US as the “capital arrogance”.
Introduction to the article In our modern world globalization can be seen everywhere, and the globalization is mainly influenced by United States of America. As we know America is the melting pot of all countries and cultures of the world. United States of America is the most diverse nation in the world. This article discuses in-depth the true existence of the global Americanization of the world and its impact of culture on globalization. Understanding Globalization Globalization is the phenomenon that has impacted throughout the world in different countries, linking and integrating the various economies, growing to major brands in different countries.
Since the majority of trade any country does is international, and it’s been shown that individual economies are interdependent on each, the current state of everyone’s economy is global. Economic benefits further advance the global economy, “Businesses can communicate efficiently and effectively with their partners, suppliers, and customers and manage better their supplies, inventories, and distribution network,” (Mourdoukoutas). Allowing for open borders between countries and with more nations communicating to each, businesses can then
I will share the illustration of both the tension between local culture and globalization, and as well the opportunities afforded by globalization. We should first of all ask what globalization is. Globalization is the integration of economics, political, and cultural system across the globe. However, other critics view it as an Americanization of the world culture, a means by which the U.S to systematically dominate the world affaires? Globalization has a profound implication on culture identity and media, such as chains of restaurants, movies, music’s, and TV shows in various countries in an unprecedented speed.
You have probably heard this phrase a million times before on how we live in a world where everything is changing, but what does it really mean. It means that globalization is something that is fast spreading across the globe. It is basically a way where of standardizing products and make them cheaper and accessible. Where as multinational focus on the needs pf each country and not the bigger picture. Levitt, discusses how the spread of globalization has integrated into our societies and he stresses on the fact is inevitable.
They made cooperation and trade deals. With globalization, we can eat different countries’ food and use high-tech products. So the globalization gives us a lot of benefits. Jack Welch, the CEO of General Electric stated, “Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital - the world 's best talents and greatest ideas”. Other than China, the whole world is studying and improving by referencing other countries.
Previous theories about cultural imperialism focused on how powerful country, especially the West, control the global media with one-flow information to other countries in order to effect their values, beliefs, ideologies and lifestyles (Tomlinson 2001, p.35). Consequently, cultural imperialism pushed us toward a “homogenized, Westernized global culture” which is empowered by the informational capitalism and the mass media (Ang 2007, p.8). Then around the 1990s, an economic liberalization enabled strong global flow of culture exchange for worldwide nations. As a result, the West’s domination is decentralized as the power of media is now strongly developed in many countries such as Brazil, Mexico, Japan or Korea. (Duong n.d, p.7).
Even in supposedly liberal states which are well embedded into the global system, nationalist policies and language are often used within popular politics. This would imply that nationalist ideas continue to be well ingrained into the culture of many societies. For example, the idea of American exceptionalism and the link between US foreign policy with religiosity within the United States. Wealth, it appears, does not necessarily bear a direct correlation with an opposition to nationalism. Given that many of the benefits sought after through globalization are economic and yet even the richest countries still contain nationalist feeling, the argument is enhanced for the stoicism of nationalism in the face of
This ability by these companies is a fairly new idea and continues to change. After the World Wars there were lots of new nations formed due to the ending of colonization. As these new countries became independent they needed capital and resources that might have been previously supplied by their colonizer. As many of these countries saw the immense power and wealth of their colonial ruler they strived to grow and become like them. “It takes money to make money” was a very relevant statement to sum up the struggle that restricted their growth.
MEANING OF TRANSFER PRICING Transfer pricing is the mechanism for setting up prices of the cross border intra firm transactions between associated enterprises. With the growth of MNEs all over the world, the global trade has risen immensely and the transfer of goods and intangibles between the associated companies of the world has also increased. Due to unavoidable reasons, in such transactions of associated enterprises the prices are governed by common interest of the parties and not by market forces. Thus, the transactions of goods, services and intangibles between the associated enterprises need to be done at an “arm’s length price”(further refered as ALP). ALP is nothing but the price at which the transaction between two related enterprises would have been set if the enterprises were not related.