Essay: Explain the Benefits and Problems Associated with Globalisation, Using Examples Wherever Possible. (10 Marks)

2 Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations with

Globalisation is expressed in transcontinental flows and networks of activity, interaction and power between countries, irrespective of geographic distance. It establishes and maintains economic, political and socio-cultural relations. This interaction helps economies through growth in international trade, investment and capital flows. Some factors that have acted as the driving force of globalisation include technological innovation as it had made transport and communication around the world easier, capitalism and trade have also played an important role in encouraging globalisation. Trade

Globalisation refers to the process of interaction and integration among the people, companies as well as governments of countries around the world, particularly in terms of trade, investment and technology. The process of globalisation, has profound impacts on the environment, culture, political systems, economic developments, prosperity and human physical well-being in the societies around the world.

Globalisation- Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in

Globalization is the process by which different societies and cultures integrate through a worldwide network of political ideas through transportation, communication, and trade. Generally, globalization has affected many nations in various ways; economically, politically, and socially. It is a term that refers to the fast integration and interdependence of various nations, which shapes the world affairs on a global level. Simply put; globalization is the world coming together. In this essay I will discuss multiple perspectives on globalization through the analysis of these three sources.

A process known as globalisation links different countries around the world together through different ways such as trade, investment, migration, internet, social media etc. Global trading is a major aspect of globalisation where different countries import and export goods and services with other countries. Globalisation has significantly changed over the past 30 years. Economies of scale has led to an increase in the production of goods, thus, created the need for expansion of markets beyond domestic boundaries. In addition to merchandise, various types of services are rendered to customers globally. This includes IT support, tourism, financial services etc. Globalisation has led to an upsurge in trade, multinational corporations, greater dependence on global economy, and easier movement of capital, goods and services and

Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation over the past hundred years has undoubtedly made the world more interconnected including closer societies, politics, economies, cultures and the environment. Globalisation has increased the production of goods and services. There are those who argue that globalisation creates "winners" and "losers," as some countries prosper, mainly European countries and America, whilst other countries fail to do well. For example, USA and Europe fund their own agricultural industries heavily so less economically developed

Globalization can be defined as ‘international integration’, which can be described as the process by which the people of the world are unified into a single society and functioning together. This process is a combination of economic, technological, and political forces (dictionary.com).

Frequently, people are unclear of exactly what Globalization means. Globalization is the tendency of the world's economies to act as a single interdependent economy. It can be described as the increased movement of people, knowledge, ideas, goods and money across national borders to make the world more unified in a sense. Globalization is often thought of in economic terms but as we know there are other components with this idea like, economics, and cultures. There is a huge debate of whether or not globalization is positive or negative.

Globalisation can be defined as the movement toward economic, financial, trade, and communications integration by countries and their populations globally. It is a constant process and it has resulted in the intertwining and generalisation of the needs and wants of people

Globalization is the increasing interdependence and connectedness of the world, its businesses and it markets, as well as flow of goods, ideas, technology, people etc. This phenomenon has increased vastly over the years due to technological advances, telecommunications and internet. As the world becomes a global economy, countries have the opportunity to advance more but with the catch that there is also increased competition. Thus as it becomes more common and powerful a feature, it also has some resistance as well. (InvestorWords, n.d.)

People around the world are more connected to each other than ever before. Information and money flow quicker than ever. Products produced in one part of a country are available to the rest of the world. It is much easier for people to travel, communicate and do business internationally. This whole phenomenon has been called globalization. Spurred on in the past by merchants, explorers, colonialists and internationalists, globalization has in more recent times been increasing rapidly due to improvements in communications, information and transport technology. It has also been encouraged by trade liberalization and financial market deregulation.

Aspects of Globalisation The Organisation for Economic Cooperation and Development (OECD) defined globalisation as, 'The geographical dispersion of industrial and service activities (for example, research and development, sourcing of inputs, production and distribution and the cross border networking of companies (for example through joint ventures and the sharing of assets) Economic activity is becoming organised on a global scale giving a new international division of labour, with production, investment patterns and movements and technology transfers all becoming global. In this strategy, activities are established in many sites spread over the world, based on a country's comparative

Trade, foreign direct investment, and financial capital are three positive effects of the global economy. An example of economic globalization is, when major trades of goods are being transported from country to country. Some practices made by large transnational corporations have a negative effect. With the lowering of market costs, global scope, brand image consistency, quick and efficient use of ideas, and uniformity in marketing practices, globalization can be have a beneficial effect. In brief, the global spread of some values, beliefs and practices have negative and positive effects on the people and their cultures.

|More access to food, services, healthcare etc. all over the world |Heavy environmental cost |