Internationalization: The Suitable Replacement for Globalization

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We live in a vastly different age from the one our parents or grandparents grew up in. Economies are immensely more complex, the youth have superlative access to information, and countries are able to interact with each other within seconds. A particular domain witnessing extreme change, in the recent era,w is the economical and commercial exchange between nations. Today, around one-third of trade occurs internationally. For example, online retailer Amazon has an annual revenue greater than the Gross Domestic Product of half of every nation in the world (McIntyre). Meanwhile, gross U.S. assets held by foreigners toward the end of 2006 amounted to $16.3 trillion. The world’s gross average output is reaching astonishing heights. As corporations and businesses continues trade and commerce, a problem is being amplified by non-governmental organizations, and the individuals affected by harmful trade policies; how should the laws and regulations regarding commerce evolve in the modern era? In terms of economic and foreign trade, two beliefs are commonly held and confused for each other: globalization, which focuses on the global, economic integration of formerly national economies into one world economy; and internationalization, which focuses instead upon the increasing importance of international and economical trade among singular nations. Commonly, when individuals state globalization, they truly refer to internationalism; moreover, through thoughtful analysis of the terms and their pros and cons, one can arrive to a conclusion. When primarily discussing economic policies and trade regulations, internationalization provides prime benefits where globalization would otherwise withhold the possibility for growth. Internationalization c... ... middle of paper ... ...velopment. International Monetary Fund, Sept. 2001. Web. 22 Nov. 2013. Hawken, Paul. Blessed Unrest: How the Largest Social Movement in History Is Restoring Grace, Justice, and Beauty to the World. Chapter “The Long Green” 29-47, New York: Penguin Books, 2007. Print. Johns, Steve. "What Is Globalization?" About.com US Foreign Policy.About.com, n.d. Web. 21. Nov. 2013. McIntyre, Douglas A. "Amazon Marches Toward $100 Billion In Revenue." 247wallst.com. 24/7 Wall St., 30 Jan. 2013. Web. 22 Nov. 2013. "Poverty in China." Wikipedia, The Free Encyclopedia. Wikipedia, The Free Encyclopedia, 16 Nov. 2013. Web. 22 Nov. 2013. "Poverty in China." Wikipedia, The Free Encyclopedia. Wikipedia, The Free Encyclopedia, 16 Nov. 2013. Web. 6 Dec. 2013. "Poverty in India." Wikipedia, The Free Encyclopedia. Wikipedia, The Free Encyclopedia, 16 Nov. 2013. Web. 22 Nov. 2013.

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