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What are the advantages and disadvantages of globalization
Impact of computers and technology on globalization
What are the advantages and disadvantages of globalization
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1. Introduction The current integrated and interdependent world economy is the outcome of the process of Globalization. Various definitions of Globalization are available. As per Block (2004), in his research paper, has defined globalization as “Intensification of world-wide social relationships which link distant localities in such a way that local happenings are shaped by distant events and, in turn, distant events are shaped by local happenings.” The IMF (2008) claims that globalization is a result of advancement in technologies and modernization of the people. It is the result of growing incorporation of economies in the world, predominantly through the movement of labor, technology, knowledge, services, merchandise and investments across international borders. Globalization also has a direct effect on the social, environmental and political aspects of the economy (ibid). Enhancement in technology is the key driving force of globalization. Advancement in technology especially the growth of internet and telecommunication infrastructure has facilitated an easy method of communication and conducting business globally and creating global markets. Moreover the interconnections of economies will increase both opportunities for the business and competition among them. Zhu (2009) argues that globalization has two different parts namely Globalization of markets and Globalization of productions. Globalization of markets is about fusion of national markets, which are traditionally distinctive and separate, into one huge global market. Here the markets which are physically separated by national boundaries will be merged conceptually with the help of technologies and policies and then perform the business globally (Zhu, 2009). Ex. Co... ... middle of paper ... ... in following globalization strategy. The nations will have to consider not just the economic benefits but also the environmental and cultural aspects when supporting globalization. References Aspray, W., Mayadas, F., and Vardi, M.Y., Eds., (2006), "Globalization and Offshoring of Software: A Report of the ACM Job Migration Task Force. ACM,2006; http://www.acm.org/globalizationreport/overview.pdf Block, D. (2004), “Globalization and Language teaching”, ELT Journal, Volume 58, January 2004, Oxford University Press, eltj.oxfordjournals.org/cgi/reprint/58/1/75.pdf International Monetary Fund (IMF), 2008, “International Monetary Fund: Issues Brief”, IMF Publications, Available at : www.imf.org Zhu, Y. (2009), International Business Strategy ,2nd Edition, Middlesex University Business School, McGraw Hill Publications, ISBN : 9780077127015, pp 3:36
A number of factors are driving the globalization trend. First is the high cost of medical care in the United States, which is the source of the largest number of patients. Many people find it far cheaper to fly overseas to get treatment versus the high cost of medical care in the United States and the quality of care is often comparable to what they would receive in America. Then is the fact that millions of Americans are uninsured and many more are underinsured and face high co-payments for expensive procedure with the exception of Obamacare, which now makes it somewhat possible for those to afford insurance. Many of these people find it far cheaper to fly abroad to get treatment, because sometimes greater access to modern technology could be the difference between life and death. The cost of medical services in other countries can run from 20-35% of cost for the same procedure in the United States Third, is the emergence of high-quality private hospital chains in Southeast Asia. Fourth, the rising costs of insuring their workforces are starting to persuade some large American companies to look abroad. And finally, some insurance companies are starting to run trials with payment for foreign treatment at internationally accredited hospitals.
Recent changes to the way countries handle business open way to more efficient global strategies, and it is expected that more of these changes take place in future years. For example, a growing change has been the way consumers shop—more and more customers among countries demand similar products. Another important change is the country’s willingness to be more open to business—many trade barriers are coming down or being reduces, and many agreements between countries for free trade are being established (Yip, 1995). Thus, a nation must provide favorable conditions for companies to compete internationally (Porter,
The essay, “The Noble Feat of Nike” by Johan Norberg basically talks about the effects of Nike going into third world countries, particularly Vietnam. Norberg explains how Nike’s factory gains from being in its desired location, Vietnam. Vietnam being a communist country comes to Nike’s advantage, because if they were located elsewhere they would have to pay workers higher wages and use more of their machines. Workers in these countries are provided with an air conditioned building with regular wages, free meal plans, free medical service, and training/education to operate the machinery within the factory. The workers find all of this beneficial and in their own favor because of the fact their earning double to five times the amount in wages than if they were working outdoors on a farm. This great deal, blinds them to notice the meaning behind the company’s location in Vietnam. The Nike factory was rather clever in making their location in that specific area to gain benefits for Western owners. The catch Nike gains from is simple. The owners pay factory workers only a small monthly sum from what they make selling the shoes to customers. Globalists state that the company doesn’t pull this fast one on the Western population because of our advancements compared to the Eastern countries. Western people would protest and strike to demand better wages for their work, but the people in Eastern countries have no choice but to deal with the injustice in order to support their families and educate their children.
Globalization is a broad concept and the angle taken to define it can lead us to interpret the idea in many different ways. There is much controversy about what globalization actually means and many definitions fail to encompass social, cultural and technological exchanges between world systems. John Pilger suggests that "it is a jargon term which journalists and politicians have made fashionable which is often used in a positive sense to denote a 'Global village' of free trade, hi-tech marvels and all kinds of possibilities that transcend class, historical experience and ideology." (J.Pilger 1998:63). Taking a broader point of view, Bilton et al defines globalization as "The process whereby political, social, economic and cultural relations increasingly take on a global scale, and which has profound consequences for individuals, local experiences and everyday lives."
Globalization is a term which holds a multitude of meanings. It has been defined as a phenomenon which has enabled individuals and businesses to seamlessly interact with each other without borders. Globalization displays increasing trade and investment following the disappearance barriers and the interdependence between states (Galateanu, 2012). Even though an agreed upon definition is difficult to obtain, globalization is the process which expands businesses across borders. It integrates the socie...
Woods (2015) explains that the impact of globalization can be understood further when separated into two categories, market globalization and product
It is widely accepted that there are a lot of benefits globalization brought to our life. Firstly, advanced transportation system makes different places of the world closer. Considerable amount of exciting tourists can visit remote villages in the corner of the earth. Secondly, new telecommunication, such as internet and TV, makes people’s common life colorful. Fans in China who are interested in Manchester United can also share their joy with their counterparts in United Kingdom, when the team won a game. Moreover, we can buy the popular products of high quality made in other countries, such as automobiles of Volkswagen and furniture of IKEA. Finally, globalization can lead to cooperation in trade between different countries. Even though globalization can bring so many conveniences to us, we still worry about its severe negative aspects.
Globalization can be defined as a consequence of several factors that contributed to a more integrated and interdependent world economy such as reduction of costs of transportation and communication, time–space compression, economic integration (European Union), free markets and technology.
Globalization is the new notion that has come to rule the world since the nineties of the last century with the end of the cold war. The frontlines of the state with increased reliance on the market economy and renewed belief in the private capital and assets, a process of structural alteration encouraged by the studies and influences of the World Bank and other International organisations have started in many of countries. Also Globalisation has brought in new avenues to developing countries. Greater access to developed country markets and technology transfer hold out promise improved productivity and higher living standard.
Globalization involves economic integration; the transfer of policies across borders; the transmission of knowledge; cultural stability; the reproduction, relations, and discourses of power; it is a global process, a concept, a revolution, and “an establishment of the global market free from sociopolitical control. (Al-Rodhan, 2006). Globalization is the definition of universal reconciliation procedure arises from a change perspective planet, characteristics, thoughts, and different parts of society. Globalization implies that advertises the planet broad national assets and the common trade. Developed within the framework of transport and telecommunications, with the ascent of the Internet, is the focal point of globalization, generate more financial training relationships and customs. Using the term globalization has grown since the mid-1980s, and especially since the mid-1990s. Globalization affects and is affected by the business and working ideas, issues related to trade and profit, assets socio-social and natural
The term entered common vocabulary in the 1980’s and it grew so popular that the economic, political and cultural background of today is now described as “The Era of Globalization.” However, this term needs to be thoroughly clarified as it means different things to different people. To some, it is a natural phenomenon of wide-spreading economic, social, and political activities of different countries beyond their physical borders. In these people’s view, the increase in free trade and international exchange of information, labor and technology represents a beneficial process of economic development. Yet, there are others who believe globalization can damage the level of employment, the social progress and the cultural identity of a country. As a result of these divergent views on the matter, the term “globalization” and the phenomenon it names are the subject of a very strong debate.
Globalization can be defined as the international incorporation which results from the exchange of products, culture, ideas, and worldviews. It may also be defined as the increased flow of people, information, and goods across international boundaries. Increase in transportation and the internet has brought about an increase in globalization. Three different forms of globalization dominate the world which are; economic globalization which is the rise in the economic dependence of national economies all over the world due to a rise in to and fro movement of technology, capital, and service from one country to another, political globalization which is different government sectors using the same method, practice, and ideology, and social globalization which involves the unceasing spread of religious beliefs and ideals, whether by the use of soft means such as persuasion or by the use of force. Some individuals and social groups resist globalization because they belief that globalization would destroy their culture and their natural environment, bring ...
Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and governments of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in a global community. Conversely, the negative aspects rarely receive the same level of attention. Globalization appears to be advantageous for the privileged few, but the benefits are unevenly distributed. For example, the three richest people in the world possess assets that exceed the Gross National Product of all of the least developed countries and their 600 million citizens combined (Shawki and D’Amato 2000). Although globalization can provide positive results to some, it can also be a high price to pay for others. Furthermore, for all of those who profit or advance from the actions related to globalization, there are countless others who endure severe adverse effects.
Globalization’s history is extremely diversified and began during the beginning of civilization. Now we live in a world that is constantly evolving, demanding people to use resources in locations that are very difficult to obtain certain resources. This could make it completely impossible to operate in these specific parts of the world. However, globalization allows people across the world to acquire much needed resources. Globalization creates the opportunity for businesses to take advantage and exploit the ability to take part of their business to a different country. Nevertheless, globalization is part of today’s society and will be involved in virtually all situations.
Stonehouse, G., Campbell, D., Hamill, J. & Purdie, T. (2004). Global and Transnational Business (2nd ed.). Chichester: John Wiley & Sons.