The Influence Of Globalization Essay

1170 words - 5 pages

The interdependence of nations, the internationalization of domestic economies, the frequent international cooperation, all of these phenomena are brought by globalization, which has become the buzzword of the twenty-first century. Business dictionary (2004) define globalization as a process of ‘interaction’ and ‘integration’ among the people, companies, and governments of different nations, the process driven by ‘international trade’, ‘investment’ and ‘information technology’. It is well known that contemporary globalization has effects on the economy, culture, environment as well as political fields in societies around the world. As a positive force in the world, globalization has already ...view middle of the document...

China became the world’s third largest importing country in 2004. (Appadurai, 2004:17)

Secondly, globalization encourages free trade among countries and improves the production efficiency. Specifically, International trade allows participating countries to benefit from specializing in products and services in which they have a comparative advantage over other countries. In other words, it is more cost effective for them to specialize in a certain product. According to Killick (2000:39), ‘specialization is achieved when participating countries shift their scarce resources toward producing goods and services in which they have a comparative advantage over other countries, and in turn, increase the consumption of all goods. ’Globalization is seen as a driving force for International trade and exchange of products. As a consequence, cost is minimized whereas profit and efficiency are maximized.

Thirdly, both developed and developing countries can benefit from globalization. With regard to trade between developed nations and developing nations, the developed nations have comparative advantages in the productions of technology while the benefits of developing nations are raw materials and labor. Therefore, developed nations tend to import natural resources, agricultural products, and simple manufactured goods from developing nations. In exchange, they export high-tech machinery and consumer goods. Moreover, the field of science and education in developing countries improved greatly due to introduce advanced technology from abroad. In brief, the overall boom in world trade has largely accelerated economic growth of both developed and developing countries.

Fourthly, as the economy goes global and new technologies are introduced, new business opportunities create jobs that did not exist before. Global companies enter local markets, international companies and factories create a large number of job opportunities to local people. Furthermore, to those employees who work in international enterprises, it is an excellent chance to broaden their horizons and to experience something refreshing and enlightening.

Nevertheless, it is undeniable that globalization has also exerted some negative impacts on our society. As Greenwell (2001:26) claims that globalization has weakened the position of poor countries and exposed poor people to harmful competition. His concern is understandable, especially since the gap between rich and poor has indeed become more obviously in recent decades. A study by the World Institute for Development Economics Research at United Nations University reports that in 2003, the richest fifth of the world’s population received 85% of the total world income, while poorest fifth received only 1.4% of the global income.(Scheuerman, 2004 )However, its reason is complicated and cannot be simply attributed to globalization. It is a fact that some developing countries have not yet exploited all the benefits that globalization can bring....

Other Papers Like The Influence of Globalization

"The Limitations Of Globalization And Transnationalism"

1283 words - 6 pages In recent years, there has been a large shift in the international system from the traditional views of nationalism. Political identification and human interaction are increasingly crossing national boundaries to create new global connections. As a result, globalization is becoming a common term associated with world politics. But what exactly is globalization? Does it refer to the merging of nations; a common trade unit; no taxation on imports

The Impact of Globalization on Haier

2893 words - 12 pages THE IMPACT OF GLOBALIZATION ON HAIER Name: Institution: Date of submission: THE IMPACT OF GLOBALIZATION ON HAIER Introduction People across the world have been interacting with other cultures in numerous ways, many of them for economic reasons. Integrating the insights of the past, one could envisage that it was difficult initially for people to communicate and do business together. However, these obstacles still subsist even in

Influence of the Study Habits

1006 words - 5 pages strengths. Different people just have different strengths. For that matter the researcher will undertake this study in order to find out the influence of the study habits in the academic performance of the pupils. Statement of the Problem This study aims to answer what are the influence of the study habits on the academic performance of the grade IV pupils in San Ramon

The Influence of Social Media

1901 words - 8 pages CHAPTER II REVIEW OF RELATED STUDIES AND LITERATURE Local Related Literature Social networks gave a big help to everyone, especially among the students businessman and other members of the society. Social networks has different features that may enjoy by the people all around the world, what the problem is, people loses their self-control in using them. Facebook is the most popular social networking site today wherein

Globalization Through the Lens of the Walt Disney Company

4531 words - 19 pages (158), “consumption provides both the rationale and the motor for much of what we see as denoting globalization.” Disney uses its power and influence over people and its relative immunity to further its growth. Disney strives to create new markets and to secure lifetime consumers in already established markets. “Making profits for shareholders, creating a market base that continues to buy and shaping culture toward consumption, then, are

The Effects of Globalization and the Coffee Industry

3422 words - 14 pages The Effects of Globalization and the Coffee Industry Assignment #5 ECON 401 December 30, 2014 Globalization has had an effect on many aspects of our lives, socially, economically, politically, and culturally. Since the 1970’s trade barriers have been minimized and the coffee industry has been a high import and export for many countries being the second most traded commodity in the world behind crude oil (Chapman, Hodges, 2011). As the

The Influence of Religion in "Jamilya"

954 words - 4 pages religion, in our case it is Islam, it did not make the nomadic folk totally forget it. Because religion is your belief. No one, moreover government, is able to make people drop their belief, their religion like a hot potato. So it is impossible to say there is no influence of religion in “Jamilya”. In fact, there is two types of this influence, let them be direct and indirect. The direct influence is the influence of religion, which is most obviously

Influence of the Father on His Child

1094 words - 5 pages Assignment 1: Exploration of a Professional Journal Article in Psychology Title: The Role and Influence of the Father on his Child Anthony Hunt Professor Carolyn Bird Psy 100 This research article reviews the effects of the father’s influence on his child. It involves interpretative phenomenological analysis of eight participants and the recurrence of information provided in case notes of three men and five women. This

The Influence Of Aristotle On Alfarabi

1482 words - 6 pages ALFARABI and ARISTOTLE(THE FOUR CAUSES and THE FOUR STAGES OF THE DOCTINE OF THE INTELLIGENCE)Alfarabi was raised as a young boy in Baghdad. His early life was spent studying the art of linguistics, philosophy, and logic. His teachers were Syrian Christians experts in Greek philosophy. He studied Aristotle and Plato in detail, and it became evident in his later writings that they were a strong influence on him. He became quite a prolific writer

The Possible Influence of Information Technology

1113 words - 5 pages INFORMATION AGE: Write a report that analyzes the possible influence of information technology on practical management today or in the future The twentieth century started with the unprecedented intensification of economic efficiency of production and technological advancements. However, it was understood soon after that if industrial civilization wished to survive in a future, it would need to develop a new perception of the role of human

Influence of Environment on the Individual

1162 words - 5 pages Influence of Environment on the Individual Phaedra Rosengarth ENG302 November 15, 2010 Judith Glass Influence of Environment on the Individual “By the conclusion of the nineteenth century, the new American nation that had begun the century clinging to a narrow strip of land along the Atlantic coast, untested in its politics, shaky in its economy, and an infant in its arts, had stretched westward over a vast continent, established its

Related Essays

The Tragedy Of Globalization Essay

834 words - 4 pages The Tragedy of Globalization Globalization has been around for over a thousand years and is not a new development of western nations. Globalization is simply the transferring of ideas from one society to another. Amartya Sen the author of “How to Judge Globalism”, and Sen believes that the whole world benefits from global cooperation, and there is uneven distribution of benefits. He believes another downside of globalization is the

The Globalization Of Health Care Essay

1786 words - 8 pages RUNNING HEAD: The Globalization of Health Care                                   Case Analysis: The Globalization of Health Care Nizana Solognier Saint Leo University 1 THE GLOBALIZATION OF HEALTH CARE Case Summary Globalization has affected one of the industries that was long thought of as safe: health care. Back in the days, health care was considered a service that was

The Influence Of The Norm Essay

578 words - 3 pages David Guerrera Survey of Sociology H. M. Dorsey 02/17/2008 The Influence of the Norm It seems that every day we are encountered with things that we can do and cannot do. Not necessarily that we are always bound by the law, but even simple, legal things that we “should not” do. Even though most if these things are not formally announced, they are merely understood as acceptable means of behavior. We are conditioned and

“The Process Of Globalization, Deglobalization, And Reglobalization”

3608 words - 15 pages the phasing out of the nation-state. "Cultural globalization" was the worldwide homogenization of culture. Globalization happened when transport costs rapidly declined making it economically efficient to boost international trade. In globalization, political leadership was critical in shaping global institutions and norms in a pro-trade direction. Globalization happened because countries are willing to expand their influence around the world, they