Impact Of Globalization On The Economy

1626 Words Aug 30th, 2014 7 Pages
Impact of Globalization on the Economy Social and Environment
Economic globalization is the process of connecting economic activities of nations and regions to accommodate intercontinental trade. Goods and services can be easily moved across borders guided by international policies. International investors are encouraged to invest in other countries by either opening new businesses or branching out. Also, the importation and exportation of goods and services are allowed while job seekers can venture beyond their border for better employment.
Sustainability is achieved when the needs of the present generation are met while at the same time preserving enough resources for the future generations. This paper assesses the impact of globalization in the world today in order to find out whether the trend is sustainable for the current generation and the future generation.
Developed countries are associated with well-structured economic sector driven by cheap power. For economic prosperity to be realized, the human resource should be well educated and skilled to run the economy. Equally important, political stability provides a conducive environment for investments to grow. In most cases movement of goods and services cannot move freely in an unstable environment.
Unlike developed countries, developing countries are associated with political instability, corruption and poorly educated population. Also, such countries have poorly developed infrastructure that…
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