Globalization and International Finance, Questions and Answer

Q1. History of your topic (i.e. product, country(ies), article, etc)? Please explain in detail your topic selection.

Globalization is defined as moving towards a world in which barriers to cross-border trade and investment are declining; distance is shrinking due to new advance in transportation and telecommunications technology, material culture is starting to look similar the world over; national economies are merging into an interdependent, integrated global economic system (Hill). The word itself. “globalize”, appeared in the 1960s meaning to “make global in scope or application”.

Can be traced from the Silk Road, route between China and the Mediterranean Sea, which promoted the exchange of ideas and knowledge, along with trade goods and foods such as silk, spices, porcelain, and other treasures from the East. Also when Europeans began creating colonies abroad, globalization developed. Globalization can also be traced to the Africans that were brought into other parts of the world. For example, bringing the Christian religion to the places they visited, and spreading Christianity from Europe to Latin America. An example, of gobalizatoin is a car designed in Germany, assemblred in Mexico, from components made in US and Japan and fabricated from Korean steel and Malyasian rubber.

Q2. How is your topic related to International Finance?

International finance has two basic parts: integration and technical change. These basic forces have shaped the evolution of international finance for centuries. “Global integration of money and capital markets is an important part of international finance; through such channels purchasing power over real resources today is transferred from areas of the world where expected rates of r...

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...r topic be better or have a greater impact? If so, what would you change? or how would you positively impact it? 10. What did you learn? How can you apply what you learned in your current job or future career?

With the fast changing world era of the internet and technology, globalization is evident. We can contribute to globalization by investing more in research, technology, education, capital and innovation. The more innovation and research is done, the more new products can be done at a lower cost and higher product quality. Globalization allows more creativty and diversity. Due to the effects of globalization, all firms try to acquire human pool of talent that is very diverse, because diversity helps globalization. To be able to compete in the international global market, there should be a diversity in the firms whether is it employees, ideas, or creations.