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Present The Advantages And Disadvantages Of Globalisation, Examine How Global, Regional, And Bilateral Trade Agreements Can Impact On The Global Economy?

3967 words - 16 pages

(M.K.FarmahIntroductionThe first part of this essay will be aimed towards understanding the concept of globalisation. We will analyse the various advantages and disadvantages that arise as a result of globalisation. The major part of the essay will concentrate on investigating the impact of global, regional and bilateral trade agreements can impact the global economy.In order to devise an accurate and informative response to the essay question we must first understand the concept of globalisation. Globalisation is about what is happening to economies on a world scale. Although the idea is not often clear, everyone who talks about the concept recognises that the countries of the world tend to ...view middle of the document...

Today however, globalisation is not just capital flow, but a revolution to make individual nations part of a global village, under one legislation. Basically, it's to remove the distance between countries. As a result, it's also the restructuring of everything, from politics, to the economy, to make it part of a global economy. The defining characteristic of globalisation is a free market capitalism and trade liberalisation. The consequences of these changed however, have not been discussed and are under heated debate. While some people think of globalisation as primarily a synonym for global business, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, and many others to work on a global stage. With the technological revolution, it is now a lot easier to do so.Advantages and Disadvantages of GlobalisationThe existence of trade has always been present between people and between countries. However since the 2nd World War trade in goods and assets has gained a larger significance everywhere. There are various advantages related to globalisation ¡V first the foremost related to trade and investments spreading wealth and linking countries together, however simultaneously there are various negative consequences.Some of the main advantages are:"« Increased liquidity of capital allowing investors in developed nations to invest in developing countries."« Increased free trade between nations."« Corporations have greater flexibility to operate across borders."« Increases in environmental protection in developed nations."« There will be a reduction in the likelihood of war between developed nations."« Greater independence of nation-states."« Spread of democratic ideals to developed nations."« There will be a reduction of cultural barrier, increases the global village effect."« Faster and easier transportation of goods and people."« There will be increased flow of communication allowing vital information to be shared between individuals and corporations around the world."« The presence of global mass media will tie the world together.Some of the main disadvantages are:"« Corporations seek out for the cheapest labour, therefore there will be increased flow of skilled and non-skilled jobs from developed to developing nations."« There is increased risk of economic disruptions in one nation affecting all nations."« Corporate influence of nation-states far exceeds that of civil society organisations and average individuals."« There will be a threat that the control of world media by a handful of corporations will limit cultural expression."« Greater chance of reactions for globalisation being violent in an attempt to preserve cultural heritage."« Greater risk of disease being transported unintentionally between...

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