Essay on The Impact of Globalization on the UK

Essay on The Impact of Globalization on the UK

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Globalisation is difficult to define; it is the development of the
world into just one market i.e. a global market. Quite simply
businesses have moved from producing and selling their goods in just
their national markets, to producing and selling their goods and
services all over the world. It is bringing the world closer to
Homogenization.

Therefore they are spread across international boundaries. It is firms
using the world as one giant market, with the possibility of having
parts of production in different countries, leading to the
fragmentation of production, whereby materials and components are
sourced from different countries. This has lead to increasing
'interdependence', where a countries economic performance can affect
other countries that may be using that country for a part of
production, or service. For example if the E.U. ( a major market for
Chinese manufactures ) went into recession, then it could impact on
the Chinese economy, and could also impact on other economies (or the
whole world) that may...

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