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Globalization And The Effects On The World

1334 words - 6 pages

During the early 20th century the world economy supported high levels of trade and relatively free capital flows between industrialized nations. Therefore it could be said that the process of globalization started along time ago and not recently as it is perceived for most of the people around the world. Usually globalization is taken to mean growing international trade and investment, but there is more than that. Globalization involves economic activity, having to meet international competitive standards: price, productivity, and profitability. Globalization is a broad and complex issue. Something that has become part of our daily lives, economically, politically, culturally and ...view middle of the document...

(Cioffi 9) Governmental efforts to maintain competition through antitrust regulations would be tempered by acceptance of the needs of companies that are sharing research and development, carrying out joint manufacturing, or forming various kinds of beneficial partnerships and alliances Therefore, governments would have to be able to coordinate exchange rates to reduce arbitrary risk from currency fluctuations incurred by global corporations as they move goods and capital freely around the world to wherever offers the greatest return. Local people, acting through their governments, should no longer have the right to govern their own economies in the local interest. Government should respond instead to the needs of the global corporations.There is a continuing tension between the multinational and the transnational view of the global corporation. A multinational corporation takes on many national identities, maintaining relatively autonomous production and sales facilities in individual countries, establishing local roots and presenting itself in each locality as good local citizens. However is transnationalism that involves the integration of a firm's global operations around vertically integrated supplier networks. (Gidden 655) The more protected individual markets are, the more a global firm is forced to function in a multinational mode - producing locally in each setting to achieve access to that market and integrating itself into the local economy. As local settings are opened to the global economy, it becomes possible, and highly profitable, for a firm to take advantage in the differences between localities in regards to wages, market potential, employment standards, taxes, environmental regulations, local facilities, and human resources. Therefore multinational companies are arranging its global operations to produce products where costs are lowest, sell them where markets are more profitable, and shift the resulting profits to where taxes are least oppressive. (Giddens 667) Consequently, the ability to shift production from one country to another deteriorates the good deal of any local-market and modifies the balance of power from the local human interest into the global corporate interest. As compared to nations, the interest of Multinational enterprises are far more situational-oriented and linked to opportunity. Multinational companies are truly the servants of demanding consumers around the world.When governments are slow to grasp the fact that their role has changed from protecting their people and their natural resource base from outside economic threats to ensuring that their people have the widest range of choice among the best an the cheapest goods and services from around the world. Globalization is about businesspeople having to consider international investment and international borrowing, whether they end up engaging in it or not. It is also about consumers having to consider imported products and satellite television whether...

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