The Economic Impacts Of Globalization

Decent Essays

Throughout the global economy, many countries and nations continued to share their investment to promote their economic growth to modernize their industries, but some nations viewed the idea of globalization negatively due to employment disparity and cultural deterioration. The term, globalization has defined a process that businesses or other organizations developing international influence or start operating on an international scale. Many Eastern Asian countries like China, Japan, South Korea, Thailand, and Taiwan have been greatly impacted by globalization from the worldwide investment like technologies to increase their economic growth and the free trade impacted many Eastern Asian countries, but most Asian countries viewed also globalization negatively due to creating their own economic system, the shift of power in the economy, and the emergence of Western-dominated culture in Asian traditional culture.
Globalization has a huge impacted too many Asian countries to advance their investment in order to grow their economic growth. In the Brookings article, “Globalization: What the West Can Learn from Asia”, the author Ijaz Nabi stated that “...the heavy investment made by Asian governments in human capital (education and health) to prepare the workforce to take advantage of the high wage manufacturing jobs created by the globalized investment. This was complemented by public investment in infrastructure to continue to attract foreign investment (Nabi).” From Nabi’s

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