In recent decades, we have seen a large movement in manufacturing goods; corporations have moved from First World countries to Third world countries. This economic trend is called globalization: “the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture” (Globalization 101). This event was caused by the obligation that companies have to their shareholders to increase profits. Globalization has been nourished along with advancement in shipping and communication.This has a dramatic effect on the world economy, it has made most wealthier than they were previously. The method of containerization has made life better for society. The average consumer has products that are …show more content…
It had very humble roots. Globalization started when the Mongol Emperor Kublai Khan, the grandson of the barbaric Genghis Khan created “Peace.” He had done this the only way he knew how to create peace through destruction and devastation just like his grandfather before him. Kublai Khan made the Silk Road safer which meant that the “east” could trade with the “west” (The Silk Road). Most trades were done through very harsh conditions since the merchants traveled mostly on camelback. This was the limiting factor in the quantity and size of containers that could be traded back then. The trades were very slow; nevertheless human beings were trading goods with each other. These makeshift “routes” were no more than stops from oasis to oasis through the Hindu Kush and Gobi deserts. This was called the Silk Road, though silk was not the only trade; many other commodities such as gold, ivory, spices and other goods desired by the people of that time were also traded (The Silk Road). Today humans do not have to go through the same troubles as the people went through traveling on the Silk Road ( In the Post-Industrial age, commerce was exchanged easier due to …show more content…
This is a country bent on dominating the world with its economic prowess. The People’s Republic of China is the fourth largest country in the world; it is so large, in fact, that it was once considered the center of the universe global market. It borders an overwhelming sixteen countries compared to the United States of America’s two. It is the largest economy in the world, as stated by the Central Intelligence Agency (CIA) in The World Factbook. China is a communist country with a tendency to act as a capitalist society. It is the largest exporter of goods in the world market. When China opened up its economic border to the world in 1978, it was comparable to a third world country; now it 's a financial powerhouse that has surpassed the United States of America in 2014. China’s GDP grew two trillion dollars over the past two years. The country had a gross national savings of 49.5 percent. That gross national saving comes from all businesses, governments, and individuals ' savings; China is not the only country that has benefited from globalization. The United States of America has
The term globalization varies from person to person. A consumer typically associates globalization with a store producing more goods, stocking inventory, and updating their styles, however; an anthropological definition of globalization is, “the worldwide intensification of interactions and increased movement of money, people, goods, and ideas within and across national borders,” (Guest, 19). Globalization of the clothing industry is about the “search of cheap, reliable labor to meet the industry’s tight margins,” (Timmerman 7). Timmerman suggests that globalization change our lives and can be for the good or for the bad (8). Globalization is often viewed as a mutual and beneficial process for those involved, because it is perceived as helping those out who are in poverty get a job and make money for their families. On the other hand, it is viewed as a horrific way to abuse individuals in different countries by paying them tremendously trifling wages, working in strident conditions, and overall being treated inadequately by the factory owners. United States corporations exploit different countries around the world such as, China, Indonesia, Mexico and
Globalization is the phenomena of increased economic integration among nations characterized by the movement of people, ideas, culture, and resources across borders. This phenomena dates back to the trade routes developed by the Silk Road, as well as those that were discovered by European explorers such as Columbus, Magellan, and Marco Polo. Globalization has been crucial for the development of both individual countries as well as the world as a whole. The conquests and subsequent settlement of new lands with new biological resources, the potential to accommodate transfers of population, crops, and livestock, international trade, as well as technological innovations are all key elements of globalization.
Sitting close to the edge of being a “developing” and a “developed” country, China is a difficult country to define neatly. It is a country with an ancient and traditional culture trying to position itself higher within the international community. Plus it is also a communist country that has come to embrace its own form of capitalism to fuel its economy. China’s economic boon has been beneficial to many people within the country. But not to all people within China evenly.
Globalization over the past twenty has become an issue in many countries. This industrialization of second and third world countries by Western Civilization creates many opportunities for the inhabitants. Not only does it expand trading markets, but also promotes productivity and efficiency; thus improving the country and integrating it into the industrial world. This process not only benefits third world counties, but also industrialized nations by allowing them to export goods to the developing world and increase their profit margin.
Globalization is textually defined as the development of an increasingly integrated global economy marked especially by free trade and free flow of capital, and the tapping of cheaper foreign labor markets (Webster’s Dictionary). Within this definition we can see so many vital pieces that need to coexist in order for it to be a truly globalized environment in this world. Globalization is term that is currently being used more frequently but it doesn’t mean the early forms of it were not already in motion. From the early second century BC, “silk roads” were being formed which traded goods from one part of a country to another. Early empires were thriving on globalizing their countries by creating routes and trails to communicate and transport goods. Globalization has expanded boundaries for 3rd world nations who were underdeveloped to become more civilized in their governance. To understand further where globalization spreads its roots, we must go deeper into the fundamentals of free trade, the free flow of capital and advantage taken of foreign labor markets.
The Millennium report advocated that the greatest challenge we face today is to ensure that globalization becomes a positive force for the entire world's people, instead of leaving billions of them behind in foulness. Inclusive globalization must be built on the great enabling force of the market, but market forces alone will not achieve it. It requires a broader effort to create a shared future, based upon our common humanity in all its diversity. Today the most significant changes in the world economy over the past decades are the upsurge in globalization of markets and industries. There are numerous forces that have greatly contributed to the rise of globalization, factors such as reductions in multilateral and regional trade barriers, mergers and acquisition that enhance assess to new markets and competition. Globalization can be claimed to have major and crucial positive implication on the businesses today.
Nowadays, Globalization is a main trend for the world economic. The world’s economy has become fully integrated. There are no barriers and borders to trade around the world.
...conomy and capitalist ideals, China was fast to prosper into one of the strongest economies in the world. The staggering rate of annual growth and unmistakably favorable outlook of the Chinese economy not only serves to threaten power-holding countries in this world, but also proves that economic reform is possible without an extensive change in regime.
When comparing the United States to China the facts are very interesting. The United States has had the world’s largest economy for about 140 years, and it roughly accounts for 22% of global GDP. In recent years China has overtaken the U.S. by its economic strength. This is GDP based on purchasing power parity (PPP). That’s where the similarities end. They are comparable in total size, the makeup of each economy is totally different. The United States is a sophisticated and highly diversified economy. This information comes from their services, finance, and consumption from the middle class. China has similar goals for the future, but right now it is resource-intensive growth engine making the transition from a manufacturing hub to a consumer-driven economy. (DESJARDINS)
In today’s business market leaders are face with diversity in there follower and who they do business with on a global scale. It is more and more obvious that products in a store are marked from a plethora of countries not just made in the country of origin from where you are from due to emerging markets. This interconnected production of products can be designed in one country and engineered in another as well as manufactured in several regions then sent to be assembled in yet another. Foreign trading and exporting is becoming the status-quo, to flourish in a competitive market, with rapid industrial growth around the world in developing countries. Opening up opportunities for growth as well as increasing the
Today, scholars often study globalization; the term that describes a modern phenomenon of interconnected trade, global markets, and high-speed exchanges of culture. Globalization began after World War II, though began at modern rates after the fall of the USSR and the end of the Cold War (What). However, is globalization truly a modern invention? Many today argue no; that globalization began thousands of years ago. The Silk Road, the famous network of trade roads that ran from China to Europe, was the first truly global exchange (What). These trails spread thousands of miles, through new lands and with new people, and ended in faraway nations first believed to be on the edge of fantasy. In this paper the author argues that the Silk Road began
With globalization, the consumers had a chance of not only buying quality products from different parts of the world, but they were also able to choose the products that they perceived as the highest quality. With the implementation of globalization, the customers were not only expecting more from the products that they were consuming from their countries, but also required the local products to match up with the quality of international products. Globalization has enabled customers to accept the high quality of the products they consume and realize the value of their money at all
In the race to be the best, China is clearly outperforming the United States. China has strong economic fundamentals¬ such as “a high savings rate, huge labor pool, and powerful work ethic” (Rachman, Gideon. "Think Again: American Decline). Their economy has grown an astonishing 9-10% over the past thirty years; almost double of what it used to be decades ago. China is also the “world’s greatest manufacturer and its greatest market” (Rachman). The continuing growth of China's economy is a source of concern for not only the U.S. but surrounding nations as well. One could argue that the U.S. need not worry about China’s growth because of the spread of globalization and that western ideologies would influence China to turn to democracy. Yet China has still managed to “incorporate censorship and one party rule with continuing economic success” (Rachman) and remains a communist country. Hypothetically, even if China does resort to a democratic state, this does not gua...
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.
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.