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Positive Effects Of Globalisation

Decent Essays

Globalisation can be defined as “the worldwide movement toward economic, financial, trade and communications integration”. (Business Dictionary. (2017). The definition then goes onto discuss the interconnectedness and interdependent of a society that allows a free transaction of capital and goods and services through the opening of boarders and uninterrupted movement of labour. (Business Dictionary. (2017). Globalisation can be seen in all aspects of a modern society and in the day to day life of individuals, for example, with the advancement of technology we have seen an increase of global communication with the use of the internet to allow people to connect and understand different backgrounds and culture. This essay will primarily focus on the way in which globalisation can affect and make an impact on the economies of small community’s and what the effects it has on the economy on a global scale.

Globalisation can be argued to be the way of the future, the way to connect countries, cultures and individuals. It is argued that the benefits encourage a less developed country to join in the path of globalisation is that in theory it is meant to allow for the free movement of labour, this being beneficial to a country that may be experiencing labour shortages. This can be seen to be effective in the European Union as they allowed migrants from Eastern Europe to move west to meet with their labour demand. Another benefit of globalisation could be an increase in competition

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