...economies around the world and the increased impact of international influences on all aspects of life and economic activity. The four main indicators of globalization include: international trade flows, international financial flows, international investment flows and the transfer of technology, as well as the movement of labour between countries. Mao Tse Tung’s successor, Deng Xiao Ping, implemented a range of radical economic reforms that transformed China into an economy with a domestic focus to one with an international focus. Since becoming integrated within the global economy, China has become a bastion of world economic growth (increase in real GDP over time) and this has enabled it to make some progress in economic development (a broad measure of quality of life). Globalisation has affected every country around the world differently. Specifically, the Chinese economy averaged 10.1% economic growth between 2003 and 2009 as a result of globalisation, causing it to become the second largest economy in the world. China experienced its annual real GDP rising from 8% in 2003 to over 11% in 2007. This high level of growth has seen China’s share of the world economy increase by 3.5% in this period to 15% in 2006, when measured in PPP terms. China’s now accounts fro 25% of world eco growth about equal to USA’s share. The main drivers of this high rate of economic growth were business investment and net exports. Despite this extended period of growth, China’s GDP per capita...
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...Examine the effects of globalisation on China The process of globalisation in China has been a rapid one. China’s exponential growth since the fall of Mao has lead to increased international influence – with China now operating on an international scale. Economically globalisation began in 1978 following Deng Xiaoping’s Open Door policy. This opened up China to foreign investment and the international markets. This lead to an influx of transnational corporations, which was advantageous to Chinese companies who benefitted from technology transfer. However, the TNC’s moved to China for its cheap labour and manufacture, which presented an ethical dilemma for China. Leaders had to decide whether to compromise on a lack of investment and poor working conditions. But Deng’s policy of “economic growth at all costs” meant that this was ignored – which has lead to consequences on the Chinese population with working conditions poor and wages low. The Special Economic Zones introduced in 1980 allow foreign investment to occur without authorization of the strict Chinese government. These areas have benefitted areas such as Xiamen SEZ greatly. Since becoming an SEZ the financial and industrial sectors have grown rapidly; its GDP of $23 billion in 2009 grew 39% in one year to $32 billion. More than 1000 foreign enterprises have invested in Xiamen, and there are now 67 universities enrolling 410,000 students a year. This has benefitted Xiamen greatly; by providing more jobs (thus reducing...
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...Colin Gaughan (x00110326) “Globalisation is a powerful worldwide force that has brought significant benefits to many peoples. Its benefits, however, have not been universally distributed.” This statement was made by John and George Steiner in 2005. They said this when globalisation was beginning to happen at a rapid pace. Globalisation allows countries worldwide to trade with each other on an economic or political front. This has had many benefits for a lot of people around the world. In my essay, I will discuss the many benefits that globalisation has brought to people. My research has enabled me to analyse this statement to great effect. Firstly, I will give a brief description of the history of globalisation. I will then discuss the many benefits globalisation has had on people worldwide. Then, I will discuss the universal distribution of globalisation. Finally, I will give a coherent conclusion to the points that I have made in my essay. Globalisation, although a relatively new term, has been occurring for many years but it has really began to occur on a much greater scale in recent times. As said by (Ross, 2003) , “globalisation began with a technological breakthrough.” This says a lot about the power that technology has. It is commonly known that technology has been a major player in many changes in the world in recent times, and it is no different with globalisation as it came about as a result of the “world's first microprocessor.” This may not sound like it could...
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...Using Specific examples is globalisation beneficial on a local, regional, national and International scale. “Globalisation (Globalization) – The integration of the world’s economies brought about by the rapid improvements in communication and transportation Globalisation hasn’t been something that has only affected the countries they start in E.g. on a local scale. In the UK 30 years ago our economy was driven by the secondary industry: factories etc. However due to globalisation, companies have now started to move elsewhere e.g. China, India for their factories as they can get cheaper labour. This has meant that the UK’s work force have gone from Secondary, to move Tertiary (Service based Industry). This has been beneficial for the UK as there is more money in the Tertiary sector than the Secondary, and it opens the UK to a much more educated workforce as the jobs are harder and require more training/knowledge. However not everywhere are happy about the idea of factories leaving the UK e.g. he Bosch factory in Wales. Before the factory opened this area of Wales was quite undeveloped, with very little industry bringing job shortages and run down areas. The Bosch factory brought in lots of jobs which helped develop the area; it also brought infrastructure such as roads and ports etc. This caused a multiplier effect and benefited Wales dramatically. Recently however due to Globalisation and the pull of cheap labour costs, Bosch have closed the Factory in Wales to move to a cheaper...
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...Globalisation is the process by which each individual country and economy is converging into a larger global economy. Globalisation has many impacts both positive and negative. In recent decades globalisation has had strong impacts in China and thus is predicted to be one of the 4 largest economies by 2050(BRIC). China has benefited greatly from the onset of globalisation and their economy would not be the size it is today if it was not for globalisation, however globalisation has had some strong negative side effects on China. Effect of the 2008 GFC As a result of increased globalisation in China, it has been vulnerable to the Global Financial Crisis in 2008. In the period between 2006 and 2007 China was operating with high GDP growth rates, with an average of 12%. When the GFC hit in 2008, the impact was clear when: * GDP growth rate had dropped down to 9% in 2008 and 8.5% in 2009. The decrease in GDP growth rate was due to worldwide demand for the Chinese exports decreasing and TNC’s closing down factories and putting millions out of work, leading to a stall in domestic industrial production. * Inflationary rate was negatively affected. In 2007 China’s inflation rate was 4.7%, in 2008 it grew to 6%, and when the GFC hit, the impact was clear when inflation had dropped down to negative 0.6% in 2009. * China’s unemployment rate had increased from 4% in 2008 to 4.3% in 2009. * China’s government debt as a % of GDP rose from 16% in 2007 to 19.5% in 2008 ...
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...Globalisation refers to the increase in the integration between countries and the establishment of a single global economy. China is current the world’s second largest economy and in the past two decades has been the worlds fastest growing economy, sustaining an average rate of growth in real GDP of 10% per annum. The effect of globalisation on China’s economy can be seen in the areas of economic growth, economic development, quality of life, economic stability and environmental sustainability. Economic growth refers to the increase in a country’s GDP over a period of time. The influence of globalisation on China has been profound with economic growth being sustained between 8 and 10 percent in the past 2 decades. This is due to China moving away from being an ecnomy with a domestic focus to a trade oriented economy, highly integreated with the global economy to take advantage of globalisation. This increased integration has seen China’s share of world exports in goods and services rise to 9.4%, and its share of world GDP estimated at 14.3%. The effect of this increased integration is evident as China is now the worlds second largest economy in the world measured by the nominal value of GDP in US dollars. Economic development can be measured through growth in GDP per capita as well as other qualitative measures. China’s rapid rate of economic growth has been based on its export oriented strategies financed by foreign investment which has increased substantially as a result...
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...Critically examine the relationship between globalisation, inequality and poverty. The term globalisation refers to the process by which the world has become more connected through advancements in technology, transport and communications and resultantly become integrated in many areas of life. For the purposes of this essay, one will be discussing the relationship between primarily economic globalisation, poverty and inequality in what many have referred to as the ‘third wave’ of globalisation, which has been prominent since the 1980s. Advocates of economic globalisation, understood as “the widening, deepening, and speeding up of worldwide interconnectedness” (McGrew in Ravenhill, 2005: 275) suggest that economic advancement through globalisation is a by-product of well-functioning markets; that countries should specialise in line with their comparative advantage; and that countries should practice free trade as a guiding principle. (Wade, 2004a: 184) Still today there exists huge economic inequality both within and between countries, and mass poverty is an issue which is still high on the agenda of world leaders across the globe. Yet data from the World Bank has shown that the number of people living in extreme poverty, of which it classifies as those living on less than $1 per day in Purchasing Power Parity (PPP) has fallen in the last two decades for the first time in 120 years. (Wade, 2004a: 163) The relationship between globalisation, inequality and poverty thus seems to be...
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...Opposition to Globalisation "Globalisation" is a term that became popular in the 1980's to describe the increased movement of people, knowledge and ideas, and goods and money across national borders that has led to increased interconnectedness among the world's populations, economically, politically, socially and culturally (Dreher,2008). Nowadays, the world is becoming more and more globalized. There is no country that can escape from globalisation. With globalisation, many countries get benefits from it. However, it also caused many negative effects from globalisation in many countries. As the ancient Chinese Philosopher Laozi said: “Good fortune follows upon disaster; Disaster lurks within good fortune; Who can say how things will end? Perhaps there is no end.” So it is natural to oppose globalisation. There are many arguments from different views. Some political scientists argue that globalization is making nation-states weaken and that the functions and power of nation-states will gradually take over by global (Dreher et al.,2008). Economists argue that businesses is becoming more competitive and more and more workers may be laid off due to greater competition. For environment, globalization is using up finite resources more quickly and globalization increases world greenhouse gas with carbon dioxide emissions which makes the air pollution worse. For cultural, the uniqueness of cultural is lost in favour of homogenization and a "universal culture" that draws heavily from...
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...This article was downloaded by: [Edith Cowan University] On: 31 March 2015, At: 12:08 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Development in Practice Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/cdip20 Globalisation Shalmali Guttal a a Focus on the Global South, CUSRI , Chulalongkorn University , Wisit Prachuabmoh Building, Bangkok, 10330, Thailand E-mail: Published online: 18 Nov 2010. To cite this article: Shalmali Guttal (2007) Globalisation, Development in Practice, 17:4-5, 523-531, DOI: 10.1080/09614520701469492 To link to this article: http://dx.doi.org/10.1080/09614520701469492 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors, and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information. Taylor and Francis shall not be liable for any losses, actions...
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...Discuss the impact of globalisation on economic development, with reference to an economy other than Australia. Globalisation refers to the integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity. China's economy has become substantially globalised since their economic reform in the late 1970s, and has thus experienced exponential economic growth and some economic development, which has aided their transformation from a developing to emerging economy. Evidence of globalisation in China can be seen in their international and trade-based financial flows, their ever-improving state of technology and communication and their increased level of alignment...
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...Ted Baker is a Global clothing retailer, which was established by Ray Kelvin in Glasgow, Scotland 1988. At the start, Ted Baker sold men’s shirts. In the subsequent years, Ted Baker established itself as a global lifestyle brand that continued to develop and attain significant growth and development. Ted Baker has operations in Europe, Middle East, North America, and Australasia. Ted Baker has managed to gain a high geographical cover even in depressing economic periods. In 2014, Ted Baker had expanded into 35 countries and had expanded its range of products from a single product – men’s shirts – to womenwear, Lingerie and childrenwear among other offerings. This essay will critically evaluate the factors behind the rise and increasing globalisation of the Ted Baker retail brand. In its efforts to become a global firm, Ted Baker sought to expand its product offerings from men’s shirts specialisation to womenswear, accessories, sleepwear, and children wear (Holland, 2013). The product portfolio expansion is essential in improving the firm’s profitability as new customers are targeted across the firm’s markets. To depict the growth of the retail brand, the expansion is observed as an aspect of product development that involves selling new products to the existing markets (Lamb, Hair, and McDaniel, 2010). However, the product portfolio expansion is also supportive of a market development strategy and diversification strategy since Ted Baker further sought to sell its products (existing...
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...is unveiling topic of globalization and does it benefit everyone involved in process Abstract This document is unveiling topic of globalization and does it benefit everyone involved in process International business Globalisation International business Globalisation Globalisation-Does it benefit everyone involved? Globalisation can be defined as trend towards more integrated global economy, great example of this would be EU where Free Trade is in place among the members, there is no borders separating those countries and most of its members have adopted same currency to aid trade in between its members. Every company and every person in the country is affected by globalisation due to its economic integration between countries, these countries are united in terms of trade in goods and services, investment, free movement of labour and in joint international actions for e.g. fight against pollution. Businesses take a lot of advantage from Globalisation because they can spread their operations globally, and this means that they can sell products all over the world, if necessary or cheaper to do so they have the opportunity to outsource their production to different countries where they didn’t have access to before. The speed that globalisation is occurring at is making a lot of businesses to spread as fast as possible before their competition will establish them-self’s in that country, Telecommunication industry is a great example of that, because around a decade...
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...“Globalisation creates more opportunities for businesses than threats”. Using knowledge of businesses, to what extent do you agree with this statement? “Your shirt was made in Mexico and your shoes in China. Your CD player comes from Japan. You can travel to Moscow and have a BIgMac there and you can watch American films in Rome. Today goods are made and sold all over the world thanks to globalisation.” ‘Vince Cable’ Bill Gates said, “The whole pace of business is moving faster. Globalisation is forcing companies to do things in new ways.” this could relate to the action, or lack of it by Apple to towards accommodating for the Chinese market and the reason their iPhone in late 2008 flopped on its debut release, only selling 5000 handsets. Apple made a surprisingly common mistake of not taking into account local Chinese consumer preferences. Apple failed to breakthrough into the Chinese market and get past the social cultural boundaries, a common error with Tesco’s Fresh&easy making similar misconceptions in America. As ‘Bill Gates said “The whole pace of business is moving faster.” Apple didn't take the time or execute the opportunity they had to expand into China, yet they still had the opportunity thanks to globalisation. Unlike Apple, BMW did and do research the habits of its potential clients, pinpointing that the average Chinese buyers of luxury cars are on average 40 years old, much younger than other markets. they also often have chauffeurs during weekdays...
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...Globalisation 1 Lecture/Chapter Topics • Chapter Introduction • Definition of Globalisation • Emergence of Global Institutions • Driving Forces of Globalisation • Changing Characteristics of Global Economy • Globalisation Debate • Managing in Global Marketplace Definition of Globalisation • • Globalisation: the trend towards a more integrated global economic system Effects of globalisation can be seen everywhere, for example: – – – – the cars people drive the food people eat the jobs people have the clothes people wear Definition of Globalisation • What is Globalisation? – Globalisation refers to the shift towards a more integrated and interdependent world economy. • Facets of Globalisation – Globalisation of Markets – Globalisation of Products – Emergence of Global Institutions Definition of Globalisation • The Globalisation of Markets – – The historically distinct and separate national markets are merging into one huge global marketplace in which the tastes and preferences of consumers in different nations are beginning to converge in some global norm. Examples of consumer products: Prada fashions, Sony Playstation video games, McDonald’s hamburgers (US), Nescafe coffee (Switzerland), Nokia mobile phones (Finland), IKEA furniture (Sweden) Definition of Globalisation • Globalisation of Production – Sourcing goods and services from different locations around the globe in an attempt to take advantage...
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...GLOBALISATION AND HIGHER EDUCATION DEVELOPMENT: A CRITICAL ANALYSIS RUI YANG Abstract – This article sets out to analyse critically the nature of globalisation and how it is affecting higher education. The author first reviews the nature of globalisation, and then examines its international impact on higher education development. He contends that globalisation is predominantly economic, and points out that global exchanges in the economic, cultural and educational domains continue to be unequal. At the same time, education is increasingly treated as a business. By exposing the negative side of globalisation and its effects on universities, the author aims to counter the uncritical acceptance of globalisation as a positive force for higher education and society as a whole. Zusammenfassung – Ziel dieses Artikels ist eine kritische Analyse der Natur der Globalisierung und ihrer Auswirkungen auf die höhere Bildung. Der Autor beginnt mit einem Rückblick auf die Eigenheiten der Globalisierung und untersucht dann ihren internationalen Einfluss auf die Entwicklung der höheren Bildung. Er behauptet, dass Globalisierung vorherrschend wirtschaftlicher Art sei und weist darauf hin, dass ein globaler Austausch in wirtschaftlicher, kultureller und erzieherischer Hinsicht ungleich bleibt. Gleichzeitig wird Bildung immer mehr als eine Art Geschäft behandelt. Indem der Autor die negative Seite der Globalisierung herausstellt sowie ihre Auswirkung auf die Universitäten, will er der unkritischen...
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