The Impact Of Globalization

The economy is based of both producers and consumers, but the customers are the ones that ensure the success of each company. More than half of the world’s population lives in a portion of Southeast Asia (Schuman). The population of Southern Asia is affecting the economy of other countries around the world because so many consumers are located in one condensed area. The Countries of China, India, and Japan consume many American goods that help both countries’ economy grow from recovery of the stock market crash. However, the Asian countries seem to be benefiting more from this globalization of the economy than America.

After reading the history of this person, I experienced different feelings in the first pride that in this world there are still such people, secondly the sadness that I as a person still failed to do something extraordinary for this world. From what I have read, I have noticed, to a large extent, the positive aspects of globalization. Even Samir himself speaks about this that they greatly influenced him “Globalization has had a very strong effect on me. It has allowed me to live with my friends and extended families that live in very different cultures and settings.”

|Related Issue 2: To what extent should contemporary society respond to the                                          legacies of |

Globalization is a process which involves the establishment of economic, cultural, and socio-economic relations between nations around the world. It is a concept that has fascinated me for quite some time because of it’s influence on topics such as; why one country gains while another loses, why certain people thrive while others diminish, how technology impacts human labor and workforce, etc. Specifically, I have always been drawn to the economic consequences of globalization and how they impact the United States and our relations with other nations. After extensive research, I have concluded that globalization can drastically improve the American economy `only when it is properly monitored and subjected to barriers. These barriers restrict the overall role it has played in the past and the role it will play in the future regarding the success of our economy.

Fortunately, many places in the world are covered with people who posses tons of possessions. From cellphones, to computers, different types of attire clothes, vehicles, furniture, electrical machinery, plastics, footwear and much more, China is one of the most largest goods exporting countries in the world. Have you ever look at the bottom of any particular item you own and saw the three words of “Made In China” on the majority of those items? China is a very large manufacturing piece of land that exports the many items that we see and posses in our country of the United States. Due to trades, imports, exports and agreements, Globalization, which is the process where businesses, industries and organizations develop the international

1. What is globalization and how does it affect domestic businesses? In your discussion, include both positive and negative impacts of globalization. (9 marks)

Transnational criminals have been one of the biggest beneficiaries of globalization (Stewart, 2012, para2). Globalization means that whole countries are becoming one single world as boosting interdependence in international society. In other words, it is the phenomenon that economy of nation states has become weak, and all over the world integrate into an one community centering on economic markets. However, different from an intrinsic mean, images of globalization have been changed to pessimistic perspective because a lot of criminals have been offered illicit benefits from there. More serious problems are they exploiting globalization on decidedly worst crimes, and governments cannot delay the speed of global crimes, let alone that solving this issue because of these reasons. So, many kinds of crimes such as, human trafficking, drug smuggling, and cybercrime that worked with organized crime have been accelerating with the dramatic growth of globalization.

In an age in which people, business, and organizations can communicate even while residing on different sides of the world, globalization has played a major role in the progress of today’s global society. As globalization continues to extend its reach to different parts of the world in different ways, it is clear that it has left a positive mark on the world both culturally and economically while improving international relationships.

Globalisation is considered one of the greatest milestones that have happened to the world. Before 25 years, no one imagines that s/he can buy a shirt or even a mobile cover from a different country and it will be shipped in few days. Although the term globalisation is founded in the nineteenth century, the application of this concept become obvious and widely use in the last 25 years (Dicken, 2007). The next section of this report defines globalisation term. The third section mentions some of the positive and negative impacts of globalisations. The fourth section discusses the impacts of globalisation on business operation. Finally, the last section concludes the report.

A transnational corporation is a large company that has a head office in one country and subsidiary offices in other country. The impacts of TNCs are important because they are responsible for employing 40 million people worldwide, have controlled over 75 percent of world trade and effects the world in many ways. TNCs have a great impact on many countries but more specifically, developing countries. A developing country is a poor country of the world where many people have a low standard of living – seeking to become more advanced economically and socially. Some examples of developing countries are: Jamaica, Nigeria, India, China, Bangladesh, China and Afghanistan. There are some good effects of TNCs although there are many terrible impacts too. The two impacts that will be discussed in this report are sweatshops and environmental issues, leading to a low life expectancy.

The dubious nature and influence of globalization is profound within the International Political Economy (IPE). Globalization is used in reference to three distinct sets of forces in the world economy. Internationalization encapsulates the upsurge in economic transactions across borders which has been occurring since the turn of the century but which some contend has experienced a quantifiable spike in recent decades. Technological revolution, a second facet of globalization describes the way modern communications made possible by technological advancement have made location and distance less important aspects, not just for government at the local and regional levels but in the quantification of modern-day communications which enables firms and other actors to operate globally with less regard for position, distance, and borders. The liberalization theory describes the policies undertaken by states which have engendered a new global economy. Both rules and institutions are created by powerful states in sustaining a new scale of transnational economic activity in certain sectors of the world economy. This also comprises the policies of smaller and less influential states in the system who through liberalization, investment, production, or trade have integrated into the fabric of the world economy. In International Political Economy, different competing claims are made about globalization. For instance, some scholars claim that globalization is nothing new, others argue that

Globalisation is the process by which businesses or organizations developing international influence or start operating on an international level with other countries. (Oxford Dictionaries, 2013) Thomas L. Friedman. Globalisation is very important and inevitable for the economic development of the world. It mostly connects people of different places and culture.

To consider all the aspects of a global network for the Little Country Store, you need to understand what globalization represents. Globalization is the interconnected movement of information, commerce, trade, people and services among nations on the global scale. Specifically, globalization in terms of information systems is global-scale movement of communication, information and technology world-wide among various cultures. It is connecting individuals from various and diverse backgrounds, languages, and ways-of-life to work and come together through aspects of technology to communicate information and share ideas and resources for the betterment of all.

Economic globalization is one of the most powerful forces to have shaped the postwar world. (Frieden, Lake and Broz 63) Free trade is the hallmark of a globalized system; reduced costs in transport and the elimination of trade barriers have led to a surge of international trade between developed countries and lesser-developed countries. The benefits of free trade extend internationally. Free trade promotes economic development in lesser-developed countries and increases imports to developed nations. But does this system of global trade benefit only manufactures and businesses or does it open up the market to everyone by creating new global business opportunities for the developing world.

Across the world, globalization is one of the most significant aspects that has occurred over the last fifty years. It allows a country to integrate economically with other countries through a global network comprised of people, trade, and transportation. With the global landscape only becoming more intertwined, globalization and its inherent pros and cons seem to be here to stay. In many areas, global powers tend to lack in rectifying the negative aspects and only focus on the positive side. America, for example, is a leader in the globalization efforts, even though it has greatly effected job opportunities at home, widening income gaps, and an increased standard of living due to fluctuating world markets.