The Importance Of Globalization

I believe globalization is somewhere in between of having a positive or negative impact on the world. Just like the old saying “too much of a good thing can be bad for you” the key to everything in life is balance and excess might harm you. Furthermore, both sides of globalization have compelling arguments on the positive and negative effects of globalization, furthermore different countries and cultures would have different opinions in regards to how they have been affected by globalization. In this assignment I will look at the positive and negative views of globalization to further prove that globalization ultimately falls somewhere in between as being positive or negative.

Globalization is a phenomenon that allows nations to trade goods and services on an international scale in order to increase wealth and strengthen economic infrastructure. Since globalization encompasses such a large scale of businesses and workers, many people pose the question as to whether or not globalization is actually a benefit.

How can we keep our community identity intact when globalization redefines our history and democracy? As community members and citizens of the world we should understand how globalization is effecting our cityspace and realize vital components of a prosperous city are diversity, neighborhoods, and local governance. To understand these issues we will break down the economics and sustainability of globalization and further define these vital components.

Globalization first was introduced in the 1990s, but is considered and is accompanying the growth of businesses internally even now in the 21st century. Globalization is based on some factors that are simple to understand but hard to implement. Advancement of technology: Advance in technology increased the communication and travel internationally and made it easy and fast. Which in turn made the world seem small. Resulting in people understanding international events and news. Consequently, increasing travel internationally and presenting better opportunities. This understanding leads to increase in international trade and multiple MNC (multinational companies). All the above said increases mean an integrated economy around the world.

“Globalization increases poverty” is a typical statement created by critics of globalization. In the past century, a substantial number of developing countries have struggled with economic growth. Globalization plays an essential role in the economy as it assists in elevating the GDP of the country in questions and consequently leading to the diminished poverty level. This research seeks to address the following fundamental concepts/ questions: what impact does globalization has in developing countries in matters pertaining poverty reduction? The paper's structure is as follows. The first section outlines the definition of globalization. The second section evaluates technological advancement through reduction of poverty on globalization. The third section explains the essential meaning of trade liberalization and the influence on development in Periphery countries. The fourth section presents foreign direct investment linkage in globalization and poverty. The fifth section explores the processes of development motives. The sixth section presents a case study that is primarily connected to globalization impact on developing countries. Lastly, the seventh section explains the impact of globalization on economic policy on developing economies.

Globalization has been in a toss-up on the valuableness of its control and how it benefits the world. Many views have come up due to the advancement of the world collectively, some believe it has only benefited society has a whole while others say it has brought only destruction to the social and cultural aspects. Two professors at highly ranked universities discuss their views on Globalization and how it has influenced the world. Globalization has greatly impacted the world through its social relations through culture. Amartya Sen at Harvard University expresses his views on Globalization through the spread of intellectual ideas and how it takes one great idea to spread across the globe.

This research finds and evaluates the connection between globalization and saliency of national identities by disaggregating globalization to find the most interactive component: human migration, technological/communicative, or economic globalization. Existing literature looks at the interaction globalization has with ethnic conflicts, and some identities, but none look at globalization disaggregated and its interaction with the saliency of national identity. Disaggregating globalization is necessary to see separate ramifications from human migration, communication and technology, and economic globalization on saliency of national identities in Africa. Additionally, case studies look at countries in Europe and Latin America, but few look at the continent of Africa. Additionally, this research addresses a divergence in literature over whether national identity or global identity is growing more important with globalization.

Globalization, the process by which businesses or other organizations develop international influence, is a very important aspect in the operation of a company. Globilzatoin encourages companies from around the world to compete in the global market, which also impacts the growth and value of an international corporation. Internationalization is a company is costly and time consuming for a company because it requires extensive strategic planning, implementation, and analysis of a given global market, opputunities and threats. However increased involvement in foreignl investments is a strong portfolio asset for a company, and can ultimately lead to big opputunitiy pay offs and increased profits for any company. Some international businesses also benefit from the advantages of globalization, making it more manageable in other areas of their business including: operational expenses, labor expenses, and low cost resources by the processes of Offshoring and Outsouring certain sectors of their business and its operations. Of all the possible benefits of merging a business into the global market, the impact it has on branding for a company is most important, Brands like Louis Vuitton, Apple, & Macy’s are all prime examples of companies that have expanded their products into global markets by strategically planning, implementing stratagegy, and constantly researching and analyzing the international market structure. Tapestry Inc, is an example of a company in the intancy stages of

Globalization occurs in three forms: political globalization, cultural globalization, and economic globalization. All forms work together to expand relationships and create a single place. On its own Economic globalization is a way for economic relations to extend and integrate across the world. Economic globalization and its policies as well as, the ideology of neoliberalism have a way of creating an inequality between countries and creates an endless debt cycle. International economic organizations have caused long-term effects due to the harsh conditions these organizations impose. A prime example of this effect can be seen in countries such as Jamaica. It is important to understand neoliberal policies and economic organizations in order to understand how debt still plays a role in today’s globalized economy.

Having good historical context is very important in dictating the needs of a state. It is essential in knowing what certain trends and cultural roots a society may have. For example, Brazil received a huge boost in its economic development when globalization first occurred because they now became a central trading hub in South America. ‘Why is Brazil “Underdeveloped” and what can be done about it?’ states, “From 1913 to 1980, Brazil experienced sustained growth, interrupted only briefly in the early years of the Great Depression, at nearly two percent per year from 1913 to 1950 and nearly four percent from 1950 to 1980. In this period of nearly seven decades, Brazil had the fastest growing economy in the western hemisphere. Per capita GDP increased over eight hundred percent, from $678 in 1900 to $5570 in 2000, measured in 1990 dollars. Brazil’s economy gained on the U.S. economy, rising from only ten percent of US GDP per capita to over 20 percent.” This goes to show that clearly there is some benefit to having yourself involved in the world market which was created as a result of globalization. Although, it is also important to note that this also had an adverse effect on them later when their global market was no longer as valuable. This article later mentions, “Excessive centralism in the nineteenth century prevented municipal and state governments from borrowing abroad, or at home, to invest in needed infrastructure, such as road, ports, railroads, utilities, schools,

Globalization, for it or against it, this is a topic you cannot escape. The influences of globalization are impacting every country around the world. Fred Hu and Michael Spence wrote "Why Globalization Stalled: And How to Restart It" published in the July/August 2017 issue of Foreign Affairs. They argue that globalization is a necessary evil that needs to be addressed on many levels to create a sustainable global order that meets the needs multilaterally. They make a successful case as to why we would be better off reforming globalization by touching on the issue many countries are struggling with, which is increasing trade growth while balancing wage inequality and trying to find a balance of protectionism and nationalism. Some people think if we ceased globalization in the United States it would increase our national equality, however, that could not be farthest from what we need. To preserve our spot as number one we need to work on issues here in the United States because foreign trade policies are not progressing with advances in technology, there are inequalities that are creating a sizable gap in our economy, and politicians are focusing on nationalism and protectionism to boost their own agenda's rather than address the real issues.

As different states continue to try and emerge as powerful global leaders there is one argument that still seems to always be questioned. The question of globalization and whether every state should implement it within the international community. The growth of international flow of money, ideas, and culture help increase the interaction between people, states, and countries demonstrating full globalization. However, globalization is not only an economic issue but a cultural issue as well. To be a globalizing international community global leadership must go beyond prioritizing only one’s interest. Globalization has both benefits and drawbacks to being fully implemented in the international community. There are many states and actors within states that would benefit from a common economic goal, however there will always be some actors and states that would suffer from a common goal. In the global community right now there are many states that would be antiglobalization for many different reasons. Some include high tariffs, human security, and trade wars. However, globalization is worth defending and extending when every state is forced to have a common economic process of integration that has both social, economical, and cultural aspects. Their are many different states that take a different approach to globalization and antiglobalization. Their different approaches help drive the argument of whether globalization is with the impacts it has on not only the global leaders but

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

Globalization is a process through which different organizations connect and coordinate with people and governments bodies of different countries for the international business through exports and imports, investments using technology across the world (Globalization 101, 2016).

Globalisation is the worldwide relationship between countries, and it’s what connects us all in order for countries to exchange in goods, services, labour skills, economic development and political development. Globalisation is a modern term used, but the concept may have been around for years. Philosopher Hegel (1770 – 1831) was one of the first theorists of globalisation as his philosophical theories seem to suggest that he was conscious of interconnected nations. But now it seems that modern society cannot escape from globalisation as it is probably one of the most important features of the economy and politics, as it allows companies to outsource, which opens up a bigger market and choice of where to manufacture and gives maximum freedom for businesses to be able to do what they want and go where they want in order to grow.