Globalization Of World Trade Has A Positive Impact On Countries

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.

The benefits that arise from international trade can be derived from nations that have acquired trade power and established their revenue. According to Stanley, “nations with strong international trade have become prosperous and have power to control the world economy. The global trade can become one of the major contributors to the reduction of poverty.” Over the years, this type of trade has thrived as a result of the numerous benefits that come from importing and exporting good and service on a global scale, more specifically because of the increasing efficiency as well as the effects of supply and

With the onset of globalization, trade barriers have diminished. This results in easier and faster transport of goods, and increase in foreign investments that create more job opportunities. In addition, the perpetuation of free trade reduces the possibility of beginning a war. However, let us be reminded that its economic pros are not universal and absolute. Although most benefit from it, unfortunate nations may still lag far behind. Furthermore, rich countries can take advantage of low wages, cause environmental damages to poor countries with limited pollution regulation and control, and impede home

There is good evidence that globalization has resulted in a considerable increase in world trade over the past 20-30 years. Costa (2008) claims that the globalization makes services, goods, people and ideas move throughout the world more easily. He also maintains that cross-border world trade will play a more and more significant role in global GDP. By 2017, it will approximately occupy 15 percent. Nevertheless, Lin Y. (2006) argues that the globalization also has serious drawbacks. He considers that globalization does harm to both developed and developing countries. Through globalization, few people in developing countries gets benefit. Most of them are still as poor as before because the change of there is so tiny. He also claims that although

People the world over are more connected with each other than at whatever time in late memory. Information and money stream more quickly than ever.Global Manufacturing

That this was also the decade in which globalization came into full swing is more than a minor inconvenience for its advocates” (Rodrick). If globalization is supposed to present an advantage to developing countries, why have there been so many setbacks? Indeed, both sides will have its winners and losers regardless of which side of the development coin they live on, but for the most part globalization has lifted millions out of poverty, improved the standard of living, and increased life expectancy rates all while keeping developed nations relatively competitive to their developing counterparts. Globalization’s value is that it seeks to create an economic equilibrium in the world, where parties are free from barriers and can benefit from one another through a more efficient allocation of resources. This allows all participating nations to contribute to an integrated economy and where all nations willing to embrace globalization have the potential to benefit. Regardless, the path to successful integration to the global economy has not always been easy. There is contention towards globalization as some argue that it is detrimental to developed nations, while many developing countries that were forced to hastily open up their markets and integrate failed. However, if implemented properly, globalization has proven that it can benefit all parties involved and that the potential gains outweigh the losses.

Globalisation, a result of social development, can be described as the increase in cross-broader trade and influence on the economic and social behaviour of nation states (David Begg, 2003:272). This process has affected the world widely and deeply, principally in economics, industrial, technological, political and cultural aspects.

Globalization is interpreted in a variety of different ways. One way is that it introduces opportunities which further develops regions to progress and prosper in the global economy. In many cases globalization means the shift toward a more integrated and interdependent world economy. The world is moving away from self-contained national economies and toward an interdependent, integrated global economy. There is an insurmountable amount of ways to impact globalization but some include trade, people movement, communication and technology. In all cases, globalization increases the connectivity between cultures and nations, which helps accelerate advancements in society. Also, in a business tense, globalization leads to the creation of global customers as well as connecting the global market together. Many people ask the question, “is it possible to have a compatibility of profits with people and planet?” To answer this question, yes it is possible, but in order to do so companies need a goal of sustainability. Three factors lead to sustainability. People, planet and profit. All of these rely on fair business practices and beneficial environment practices. In order for a company reach sustainability, they will need to restructure the framework to a more sufficient one. This will allow people, planet, and profit to co-exist with one another and allow the company to prosper. This is a major thought for multinational companies to consider when they set up international operations.

Globalization has generally been viewed as a positive aspect. Although it’s viewed as a positive thing, it also has its negative aspects that people usually choose to over-see and ignore. The most positive aspect of it was importing and exporting goods for other merchandise that may be needed more than what you have or in which crowded places it was not self-sufficient. In Pomeranz and Topik 2.7 Trade, Disorder, and Progress: Creating Shanghai, 1840-1930 really grasps the positive areas of the impact globalization has had on trade. 3.4 The Brew of Business: Coffee’s Life Story in Pomeranz and Topik as well as 2.7 focuses more on the positive that it does on the negative. It isn’t until 5.6 The Violent Birth of Corporations in Pomeranz and Topik that negative aspects start being brought up. Violence against native people is almost the only negative part about it due to the fact that no one should be tortured, used, or harmed in this process since it is normally used for good. Some of the good things that came from this is the fact that if you need something you don’t have, you know you can rely on trading something you do have for what you don’t, the way coffee grew, and the connections it built were all positive. Some of the disadvantages of trade were increased jobs outsourcing, theft of intellectual property, crowd out domestic industries, poor working conditions, degradation of natural

Developing countries are adversely affected by globalization, especially in economy area. Globalization is a process which the world interconnection keeps increasing so it is possible to trade or exchange cultures conveniently. In the past, it was anticipated to develop a whole of countries’ economy or technology and solve some environmental issues such as air pollution or global warming. Unfortunately, until these days, the result of globalization does not reach 50% of economists’ expectation. The major reason of the evaluation is in spite of the fact that it provides advantages, globalization increase the gap between rich and poor. One of the biggest victims is developing countries. They suffer a great loss from the drawbacks of globalization. These are excessive outflows of brain and money, excessive competition in the world market, and Increase of economic polarization.

Globalisation has been one of the most hotly debated topics in international economics (Forbes.com, 2017). Rapid growth and poverty reduction has been a positive aspect of globalisation on developing countries like China and Africa. Increasing globalisation has helped the expansion of opportunities for nations and benefits workers inrich. Globalisation is a process of opening up economics so that trade between countries could take place freely (Digit Pro.2017). The negative aspect of globalisation

Rising levels of globalization in modern times has led to a growing interdependence of countries around the world and increase in trade links between them (Johnson and Turner, 2010, p. 21). This in turn has created popular discourse on the idea of a global economy arising out of free-trade instead of country specific economies, and consideration of global costs of protectionism.

Since the origins of the Silk Road during the Han dynasty, the world has been sharing, collaborating, and learning new ideas from all over the world. This is now known as the term “Globalization”. As Webster Dictionary states, globalization is “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets,” (Webster, 1). Since then, the creation of technology has spurred and launched the spread of globalization. It has now had an effect on every aspect of our daily lives, including our environment, culture, political system, economic prosperity, and even on our physical well-being (What is Globalization, 1).

Globalization is the process of increased interconnectedness among the countries most in the most known popular areas of economics, politics, social, and culture. All of these areas are key aspects of each country and what makes them individualized. Globalization allows for countries to be able to be individuals without the conflict of their differences because of the power used to work as a whole globe. Globalization is a positive thing for the entire world, it allows for lots of development in our world by the connection there is between all of the countries interdependence on each other. The different points of globalization claim that it will lead to convergence of income, access to knowledge and technology, consumption power, living standards, and political ideas.

Responding to globalisation, the government, politicians, economists, lawyers and other related stakeholders have intensively generated multifarious ideas, concepts and debates concerning what, why and how we should deal with this prominent issue. Globalization has been a pragmatic way of depicting the spread and borderless nature of production, communication and technologies that has resulted in making nations and societies around the earth more interconnected and interdependent. Regarding international trade, it has increased the number of goods not only high technology product but also shoes and clothing, are manufactured in global networks of supplies of raw materials and intermediate goods and producers of final goods located in many countries. As a result, globalization led many countries to closer international economic integration.