...Global economic issues Globalization in Economics and Its Consequences Introduction The contemporary world is slowly getting more integrated socially, economically and politically. Economic globalization encompasses the entire world and a growing amalgamation of the global production, consumption and the fiscal markets with a simultaneous harmonization of global cultures. Globalization of the transitional monetary system was manifest after WWII and the Great Depression of the 30s in US. The evolution of Multinational enterprises was a resultant phenomenon of globalization. In principle, globalization on the fiscal front submits to the assimilation of merchandise, prices, labour incomes, revenue rates and proceeds toward industrialized nation standards (Garrett, 2000). The emergency in the volume of business between industrialized nations and the developing nations, augment in cross-border dealings, increase in immigration and transfer of skill are fundamental issues of globalization. In simple words globalization is analogous to making the entire world function as a huge country. Globalization: The term globalization can broadly be defined as a process through which global networking of communication, trade, and transport leads to integration of regional economies and cultural societies. The process is a result of a combination of factors like culture, technology, politics, and economics. Economic globalization refers to “the integration of national economies into the international...
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...What is meant by the term 'globalization'? Illustrate your answer with references to your chosen organization or industry. According to Held et al (1999) globalisation is "the widening, deepening and speeding up of worldwide interconnectedness in all aspects of contemporary social life, from the cultural to the criminal, the financial to the spiritual". The main indicators ofglobalization are trade and foreign direct investment (FDI). There has been a recent rapid increase in international trade from 1950 to now (more than 27 fold). FDI is the investment by a firm based in one country in production and/or operating capacity in another country (i.e. not mere 'portfolio investment'). The major players in this expansion of international trade and in the even greater increase in FDI are the multinational or transnational corporations (MNCs or TNCs). These increases have led to increased economic interdependency on a global scale but globalization is also manifested by increased political, legal, technical, social, cultural and ecological interdependency. Briefly explain what are some of the main drivers of globalization. Illustrate your answer with references to your own chosen organization, industry and/or country. The main drivers of globalization are economic, political and technological. Economic factors include economies of scale and the access to cheaper inputs. Technological factors include improved and cheaper transportation and communications. Economic factors include...
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... 3 1. The concept and essence of globalization 1. What is globalization 5 2. History of globalization 11 3. Different types of globalization 13 2. Effects of globalization 2.1 Positive effects of globalization 19 2.2 Negative effects of globalization 21 Conclusion 23 Endnotes 24 Bibliography 25 3 Introduction Today it is really difficult to find a more fashionable and a discussion topic as globalization. Dozens of conferences and symposia, hundreds of books and thousands of articles are devoted to it. It is discussed and debated...
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...made to implement the same. UN Regime ELEANOR ROOSVELT articulated power and authority of UN only to Refugees, not IDPs. 1992 UN Secretary Boutros Gali appointed Francis Deng as his representative for IDPs. He collected and reviewed scattered international provisions in regards to IDPs which is known as GUIDING PRINCIPLES ON INTERNAL DISPLACEMENT, which defines IDPs. DEFINITION OF IDPs IN THE GUIDING PRINCIPLES OF UN “Persons or group of persons> who have been forced or > obliged > to flee or > to leave their homes or habitual residence, In particular as a result of or in order to avoid the effects of• armed conflict, • situations of generalized violence • violations of human rights or • natural of human made disasters, and Who have not crossed an internationally recognized state border.” CORE COMPONENTS OF DEFINITION OF IDPS Involuntary character of movement Such movement takes place within national borders CRITICISM OF DEFINITION OF IDPS It is neither a legal definition, nor an exhaustive one too. Rather it is a DESCRIPTIVE IDENTIFICATION of person who are IDPs. WHAT IS GLOBALIZATION? GLOBALIZATION is the latest buzzword, which shaped...
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...Introduction Globalization is a popular term used to describe the process of global expansion of economies and markets across borders, exchange of goods and services, mass movements of communities for better working conditions, multi-cultural exposures, exchange of technological know-how etc. The process of globalization is considered to be erasing transnational boundaries with people sharing common goods and services or adopting the cultures of another culture. Thus, the statement given above by Knox and Marston that globalization seems to lead to loss of originality or territorial identity can be considered as true in a way. According to definitions of globalization, the primary characteristics that it possess include movement of people and goods, improvement in technology and telecommunications, diffusion of knowledge and a spurt in multinational corporations. There have been debates about the positive and negative aspects of globalization. Those who are in favour of globalization point out that economically weaker countries can have the opportunity to join the global market and export their goods and services and thereby improve their economies. Also, different governments can co-operate together for global welfare and citizens can experience other cultures and become global citizens. The positive aspects of globalization are again overshadowed by its negative aspects which include loss of territorial identity and original culture. International bodies like the World Bank...
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...Commanding Heights, The Battle for the World Economy, by Daniel Yergin and Joseph Stanislaw (1998). The program consistently discusses the importance of globalization, without really giving a definition of globalization. The term of globalization is not neutral, it can mean different things to different people. As stated by The Globalization Website: “Globalization broadly refers to the expansion of global linkages, the organization of social life on a global scale, and the growth of a global consciousness, hence to the consolidation of world society. Such an ecumenical definition captures much of what the term commonly means, but its meaning is disputed. It encompasses several large processes; definitions differ in what they emphasize. Globalization is historically complex; definitions vary in the particular driving force they identify. The meaning of the term is itself a topic in global discussion; it may refer to "real" processes, to ideas that justify them, or to a way of thinking about them. The term is not neutral; definitions express different assessments of global change. Among critics of capitalism and global inequality, globalization now has an especially pejorative ring” (Lechner, 2000-2001). Episode 1 The first hour of episode 1, The Battle of Ideas, covered various aspects of different world economies and why globalization was important to the world. The video took the watcher through a tour of the decades, from 1917 to 1947 and the economic changes that happened during...
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...Leon Lockhart PHL/320 12/15/2014 The definition of good can be described in so many different ways. Ones perception of good is going to be totally different then what someone of else thinks of the word. When looking up the definition of good it states “to be desired or approved of”. I think this is the best definition for the word good, you are usually looking for the good in things and when something is good is usually is approved. Premise Over the past years globalization has changed the way the world economy works. It is now more integrated economy, in which before we were mainly independent economies. Countries trade more than ever before in which creates more wealth and has lifted a lot of countries out of debt. For the poorer counties globalization allows the countries to use their lower costing labor to sell in other world markets. This creates jobs for the countries, and allows them to grow. For the richer countries the cost of goods are lower, which creates room for to improve their standard of living. Globalization has created more jobs all over the world causing wealth to grow everywhere. Conclusion Overall globalization has changed the way the world is developing. Since globalization has been in the work’s it has made the world economies more integrated than ever before. Trading is at its highest point ever in history because of globalization causing wealth to grow all over. It has created more jobs for the poorer countries, stimulating their economies. As...
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...When discussing a complex issue such as globalization, it is important to set forth having a solid foundation. Having a clear and concise understanding of the denotative meaning of globalization is important in order to eliminate any confusion. The Miriam Webster definition of globalization is, “the act or process of globalizing : the state of being globalized; especially : the development of an increasingly global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” (MerriamWebster) This definition highlights both the causes and perceived effects of globalization. Globalization occurs when countries open up cross border trading which allows the free flow of capital. This definition also highlights one of the many controversial issues many may have with globalization: the reallocation of human capital to emerging economies. This negative connotation of the definition perpetuates the fear anti-globalizers associate with the progression of globalization. Though the progression of globalization does not come without objectors and protestors, it is hard to refute that since countries have progressed towards a more globalized society the overall quality of life for a country’s inhabitants has improved. Mandelbaum states, “More countries joined the global economy, and the volume of cross-border capital flows expanded rapidly, increasing by an average of 11 percent per year between the beginning of the 1990s and the middle...
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...Introduction In first look, Globalization, internet & entrepreneurship have a weak relation with each other. But if you observe more precision, you can find many relation between them. For example Globalization accelerates the change of technology. Every day it seems that a new technological innovation is being created. The pace of change occurs so rapidly many people are always playing catch up, trying to purchase or update their new devices. Technology is now the forefront of the modern world creating new jobs, innovations, and networking sites to allow individuals to connect globally. All of Globalization, internet & entrepreneurship terms are very popular nowadays but many people don’t know the real meaning of them and the relationship between them. In this article we try to clear the relations. First of all, we have to define the terms. Globalization The most important term in this subject is globalization. Globalization is only a description, describing the state humanity is in right now. It is not simply an economical term, it affects our whole life. It means that we are all interconnected, and physically we are like individual cells of the same body. It is a state we arrived through our evolution, and it is a state we cannot escape. Globalization doesn’t have a clear & brief definition but according to business dictionary globalization means “The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local...
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...GLOBALIZATION AND PUBLIC HEALTH Although, recently there is a growing literature on the importance of globalization for health, the term globalization has for long been used in academic discourse, particularly within the social and political science but relatively new in the discussion within public health. While the processes of globalization are far from straight forward, the concept of health is as well a complex one, which result into no consensus either on the pathways and mechanism through which globalization affects the health of population or on the appropriate policy responses (woodward et al 2001). However, there has been a significant increase interest on the issue of globalization within public health, although a contested one, since authors on public health are still undecided not only on the exact conclusion on the impact of globalization on public health, whether bad or good, but also as to whether globalization has actually cemented its place in the public health lexicon. Nevertheless, it is know that a broad-based public health should take note of significant economic, political and social changes that determine and shape people’s health, and this definitely will call for a proper theoretical approach to globalization in understanding the nature of these contemporary economic, political and social changes (Stuart McClean in Orme et. al. 2007). This essay will describe the relationship between globalization and public health. It will first begin, by exploring...
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...Globalization and Loss of Traditional Medicinal Knowledge Cheryl Hansen WGU GLC1 - Task 1 Globalization and Loss of Traditional Medicinal Knowledge People often have strong and conflicting views on globalization producing many different definitions. Although there is not a precise definition, the term globalization refers to complicated processes that focus on how events and activities bring forth fundamental change in developing countries. Haviland, Prins, Walrath, & McBride define globalization as it refers to “worldwide interconnectedness, evidenced in global movements of natural resources, human labor, finance capital, information, infectious diseases, and trade goods” (Haviland, Prins, Walrath, & McBride, 2008, p. 19). South America and Africa are endowed with rich and highly diverse biological resources. Indigenous people of these countries are gifted with traditional medicinal knowledge of their organic resources. This traditional knowledge reflects the knowledge and beliefs of the local people and the relationship with their environment taught and handed down through generations. The World Health Organization (WHO) defines traditional medicine as: “the sum total of the knowledge, skills, and practices based on the theories, beliefs, and experiences indigenous to different cultures, whether explicable or not, used in the maintenance of health as well as in the prevention, diagnosis, improvement or treatment of physical and mental illness" ("Traditional...
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...GLOBALIZATION AND PAKISTAN, SOME REALITIES. Ghulam Ali Khan * INTRODUCTION TO GLOBALIZATION: Globalization is a multifaceted phenomenon. The term Globalization is a controversial term and has been defined in several different ways. The word globalization can imply different meaning for different people across the glob. Some focus on the economic aspect and hence emphasize the global economy outlook, whereas some focus on the cultural aspects of this phenomenon and how globalization has effected different aspects of their culture, still others focus on the political aspects of the structure of globalization, yet others equate globalization with advanced technology, particularly in the area of communication and transportation. Globalization is all that. According to Majidi (1 ) There is not yet any single definition about globalization and there no consensus about it among the scholars. According to Walsham (2) ”The term globalization has achieved the unusual status, in a relatively short time, of becoming fashionable in academic debates in the social sciences, in the business world, and to some extent in the popular media. . However, even a cursory examination of these sources would demonstrate that the term is highly ambiguous, and that it masks a wide variety of opinions on what is happening in the world.’’ Anthony Mcgrew (3) confirming that globalization is a multidimensional phenomena, pays due attention to the issue of communication, defining globalization as the increasing...
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...WHAT IS GLOBALIZATION? Four Possible Answers Simon Reich Working Paper #261 – December 1998 Simon Reich holds appointments as a Professor at the Graduate School of Public and International Affairs and in the Department of Political Science at the University of Pittsburgh. In fall 1997 he was a Visiting Fellow at the Kellogg Institute. His publications include The Fruits of Fascism: Postwar Prosperity in Historical Perspective and The German Predicament: Memory and Power in the New Europe (with Andrei S. Markovits) both published by Cornell University Press. His most recent coauthored book is The Myth of the Global Corporation (Princeton University Press, 1998). Reich has also published many book chapters and articles in journals such as International Organization, International Interactions, The Review of International Political Economy, and German Politics and Society. He has received fellowships from the Sloan Foundation and the Kellogg Institute and was awarded an International Affairs Fellowship from the Council on Foreign Relations. His current work is on the issue of the definitions and central propositions of globalization. This paper was written during my stay at the Kellogg Institute. I wish to express my appreciation to the fellows and staff of the Institute for all their help on this project, notably to Scott Mainwaring who is now director of the Institute. Introduction The end of the Cold War provided a major shock for scholars of politics and policy in at...
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...Cultural Theory and Popular Culture Globalization, Mass Media and Culture Table of Contents Globalization, Mass Media and Culture 1 Table of Contents 2 Introduction 3 Modern culture, ideology 4 Globalization 5 Americanization 6 Mass Media and their Impact 7 Globalization, mass media and culture 8 Mass media and globalization 9 Globalization and culture 10 Conclusion 12 My opinion 13 Recommendations 14 List of references 15 Introduction A term globalization was used in 1983 for the first time in a history. Globalization as we know it today started at the beginning of the 20th century. It has an impact on everything and it has changed everything from its core. Economic environment, political environment and regarding to this subject – cultural environment. As everything, it brought both advantages and disadvantages. Looking back in time when this globalization started intensifies rapidly. It evokes a basic question: why did the globalization intensify rapidly? We can consider many reasons, for example lower travel cost, free movement of people, development of technologies, faster data exchange etc. These answers lead me to another possible answer - mass media. Globalization, Americanization or westernization are closely related to the popular culture. As stated in the book ‘There are two things we can say with some confidence about the United States and popular culture. First, as Andrew Ross (1989) has pointed out, ‘popular culture...
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...The review looks at the impact of globalization on the financial execution of creating countries with specific reference to Nigeria. The review utilizes the Ordinary Least Square (OLS) technique to dissect the model embraced, in which Gross Domestic Product is utilized as an intermediary to quantify monetary execution, and relies on upon the level of openness, conversion scale, and outside direct venture which are records of globalization. Yearly time arrangement information was gathered from the Central Bank of Nigeria (CBN) Statistical Bulletin from 1980 to 2010. The review uncovered that globalization has a noteworthy positive effect on the financial execution/development of Nigeria. It suggests that the legislature ought to consistently...
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