Essay on Globalization: Sharing Our Prosperity With the World

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Globalization is the growing interdependence of the world's people that involves the integration of economies, technologies, and cultures (Bradshaw). It is described as the increased movement of people, knowledge and ideas, and goods and money across national borders that have led to the increased interconnectedness among the world. Globalization is often thought of in economic terms but as we know there are three major components implicated with this idea including: economics, politics, and cultures. Some associate globalization with modernization whereas, it is perceived that there is an alteration of "traditional" societies into "Western" industrial ones. This challenges us into a debate of whether or not globalization is positive…show more content…
It is essential to all the multinational corporations that world trade is progressive so that the world may be more profitable. International financial institutions such as the World Bank or the International Monetary Fund have thus impacted upon this theme of "globalization". They promote it as a solution for global development and see it as a process of "freeing economies" so that trade between countries can take place more easily. "Freeing up" meaning to provide more opportunities for businesses to make profits and reduce the state's role as a producer or deliverer of services. It is the focus of economic liberalization to find new ways for business to maximize profits by also increasing the wealth and prosperity of countries and their people. The key principle with the integration of economics is a free global market, which exists with as few barriers, allowing true competition to secede among nations. These businesses are the most important force for a country's development because with large profits the country will be most beneficial (Web4). Among these major industrial economies it is stated that 65% of the total economic production (GDP) is associated with the international trade. The diversity of these trade unions is rather known as "free trade" linking more than 50% of new jobs having to be created. With this being true,
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