Inic’s Have Been and Continue to Be the Driving Force of Globalization. to What Extent Do You Agree with This Statement?’

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‘NIC’s have been and continue to be the driving force of globalization. To what extent do you agree with this statement?’ A newly industrialized country (NIC) is a socioeconomic classification applied to several countries including Thailand, China, India, Malaysia, Philippines, South Africa and Mexico. NICs have not yet reached a developed status but have, in an economic sense, overtaken their developing counterparts. Another characterization of NICs is that of nations undergoing rapid economic growth (usually export-oriented). Globalisation is a set of processes leading to the integration of economic, cultural, political and social systems across geographical boundaries. It refers to increasing economic integration of countries,…show more content…
As many NICs industrialise, it is important that they are able to speak English which is the fundamental language if a country is looking to trade. Bangalore University is ranked in the top 120 in the world and this produces many trained graduates which are ideal for a company looking to locate here. In India, English is the core professional language as they focus on attracting the western companies. The increase in education in many NICs has also encouraged migration because many people can work elsewhere with the skills they have gained. Due to a highly educated population/workforce and a large proportion of people speaking English, this has attracted multination companies to these areas and this is another example of globalisation. I feel that transnational cooperation’s have had a large impact on globalisation. A transnational corporation (Multinational Corporation) TNC is a corporation or enterprise that manages production establishments or delivers services in at least two countries such as Coca Cola and Nike. Very large multinationals have budgets that exceed those of many countries. Multinational corporations can have a powerful influence in international relations and local economies and play an important role in globalisation. I feel that the economy is the most significant motivating force

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