...growth, joining the WTO also leads to high unemployment and structural changes in domestic industries. China also needs to follow trade rules set by the WTO, including intellectual property rights, which China has broken the law in the past. This strategy has both negative and positive consequences, but ultimately China has benefited more than suffered. In 2001, China joined the World Trade Organization in response to the globalisation trend and reduced its trade barriers, opening up to foreign investments and international trade. This was beneficial to the economy as it further brought major beneficial changes in its economy such as having access to the world market, attracting foreign investment, adopting new ways of management and the access of new technologies. Additionally, to further contribute to their high economic growth levels, China introduced a 5-year economic program in 2010 to build socialised harmonised countries in order to balance the wealth distribution, improve education, Medicare and social security. This has already began to increase China’s level of GDP by 45% and their Human Development Index (HDI) has risen by 0.3 in the past 40 years. However, recent trends show that despite the improvements in economic growth and development in China, in recent decades, the richest 10% of the Chinese population (mostly living in coastal cities) owns 45% of the nation’s wealth, while the poorest 10% own only 1.4% of it. The coastal cities benefit more from globalisation...
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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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...analyze the influence of globalisation on that economic development and standard of living. This document is about how china has been transformed by globalization. The impact of globalization as well. Globalisation is breakdown of manmade and natural barriers. It encourages integration and interdependence through the movement of labour, investment, finance, transnational corporation and trade. The emergence of countries is leading to global market place or single world market. Globalisation is ongoing since 1980s.This is resulting in one global market. Globalisation helps firms grow as investments are quickly managed. This is due to improvement in telecommunication between nations. This has allowed investors to invest overseas. It also caused an increase in international investment, which helped spread new ideas. Financial flow is a flow of money around the world it is increasing rapidly because of financial deregulation. Finance and technology move freely between nations while free movement of labour is stretched way off. The last few decades have been centred on removal of all trade barriers. The goal is not free trade but it is freer trade. Through the reduction in barriers it is improved in transportation system. The integration between nations has caused to problems such the GFC, Asian crisis and Euro crisis. Over the past labour markets have been increasingly integrated. The free movement of labour is important part of globalisation, as it to build the interest...
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...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 remains relatively...
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...03.06.2008 Economic Development through Globalisation in Nigeria An analysis of Shell & the IMF Structural Adjustment Programs Sven Bokhari 820619-P291 Fabrizio Del Duca 791225-P114 Group number: 1983 Summary Date: Level: Authors: 2008/06/03 Master thesis in International Business and Entrepreneurship, 10p (15ECTS) Sven Bokhari Västerås Date of birth: 19820619 Fabrizio Del Duca Västerås Date of birth: 19791225 Title: Economic Development through globalisation in Nigeria. An analysis of Shell & the IMF Structural Adjustment Programs Leif Linnskog, Ph.D. Tutor: Research Question: Can globalisation be seen as positive or negative for the Economic Development of Nigeria? A focus on Shell and the International Monetary Fund Research Issue: Globalisation in its current form is viewed in the Western world as a positive influence for the Economic Development of under developed countries. However these views on the benefits brought to developing countries have been frequently disputed. The research we are undertaking is a pilot study based on documentary research. Our source of information is secondary data such as books, articles, newspapers and journals. The study employs a qualitative approach. Even though globalisation is often viewed as positive we have discovered that this is not always the case in relation to its effects in Nigeria. Judging from our analysis, globalisation through the IMF and Shell has had an overall negative impact on Economic Development...
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...Current news? * PESTLE – table and a SUMMARY! * Competitors – 5 forces table + competitor table Organisation - Tesco * Background * Statistics * etc * SWOT Challenge * Define it * In relation to company Recommendations * CVF – where should Tesco be Conclusions TESCO AND GLOBALISATION This Essay would contain information on Tesco as an industry and organisation. It would also analyse Tesco using the four models; PESTLE, SWOT, Porter’s 5 forces and the competitive value framework (CVF). An in-depth look into the term globalisation, its advantage and importance as well a the global challenge Tesco is currently facing, its competitor and how they have reacted to globalisation and recommendations on how to handle their global challenge this paper would contain. Jack Cohen first formed Tesco. This happened in the year 1919 when he first opened up a stall in the East end of London. Tesco started out as a very small business and it did so on the platform of sole proprietorship however today, Tesco is one of the world's largest retailers with a clear, proven growth strategy. It has over 492,000 employees and about 5,300 stores across 14 markets Tesco has its headquarters in Chestnut, United Kingdom. It was originally a UK-focused grocery retailer, since the early 1990s Tesco has increasingly diversified its product range and is currently into areas such as the retailing of books, clothing, electronics...
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...are often used interchangeably, although there is a significant difference. Global marketing is employing a uniform approach to the marketing of goods in overseas markets rather than adapting marketing to the local conditions. For example, global brands such as McDonalds and Adidas try to keep a consistent product, message and offer around the world. Increasing globalisation is a facet of most firms, markets and brands, because selling into overseas markets has distinct advantages: Increased profitability - larger markets result in increases in sales and profitability as well as greater economies of scale. Overseas markets may be more lucrative and as the costs of sourcing from abroad can be considerably lower. In some markets it might be possible to sell at higher prices than can be charged in the domestic markets. Diversification and spreading of risk - economic problems in one country can be avoided if the company sells in more than one country. A fall in economic activity in one market may be mitigated by shifting production and sales promotion to other markets that are not undergoing an economic downturn. Increased...
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...DEVELOPMENT & GLOBALISATION REVISION NOTES (HUMAN GEOGRAPHY) GLOBALISATION: A HISTORY: * Some believe globalisation began in 19th century when transport and communication expanded rapidly, world trade grew leading to an increase in interdependence between richer and poorer nations, and capital flows expanded as European companies started operation in other parts of the world * In late 20th century, globalisation was shaped by: emergence of free market ideas, de-regulation of world financial markets, emergence of WTO, GATT, IMF, NICs, opening of large economies of China and India, development of global marketing; global marketers view the world as one market and create products that fit various regional marketplaces. GLOBALISATION: * Increasing interconnection in the world’s economic, cultural and political systems. FORMS OF GLOBALISATION: ECONOMIC: under both the GATT and its successor WTO, world trade has expanded rapidly; TNCs have increased economic interdependence and several generations of NICs have emerged CULTURAL: western culture diffused to all parts of the world through media POLITICAL: influence of nation states diminished in many areas as more and more countries organised themselves into trade blocs; influence of Western democracies on developing countries has also been strong GLOBALISATION CAN BE SEEN IN TERMS OF: URBAN: hierarchy of global cities emerged to act as centres for global economy DEMOGRAPHIC: growth of international migration...
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...GLOBALIZATION The world today has been described as a ‘global village’, this stems from Marshall Mc Luhan’s concept that ‘the globe has been contracted into a village by electric technology and the instantaneous movement of information from every quarter to every point at the same time’. A closer examination of globalization will indicate that indeed the barriers of space, time and borders which once existed have now disappeared or are disappearing. Globalization has been described as the rapid increase in cross-border economic, social, technological exchange under conditions of capitalism, which also, influences all spheres of our life: culture, business, trade, politics, environment and even our mentality. It connects different countries and makes their interaction easier. The globalization of the world economy is reflected in many ways. The General Agreement on Tariffs and Trade (GATT) simulates free trade between countries which allows firms to trade more easily and move around the world. A result of this increased mobility is the increasingly large scope of money and capital markets and general regulations on Foreign Direct Investment (FDI). Globalization implies that there are forces that are global, objective and universal which restrict not only diversity, but also the scope for national governments’ policy formulations. An example of this, are the conditions of the IMF loan to the British Labour government in 1976 which led to a greater role for the private...
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...the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components (internal environment) to grasp the external opportunities and face the external environmental threats. It is, therefore, very important to analyze business environment to survive and to get success for...
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...Globalization has become a sort of fashionable buzz-word. It is quite often said but seldom with the same meaning. Globalisation has been an important factor in accelerating democracy’s growth in recent decades. In this globalized world, rapid development and global proliferation of new technologies and telecommunications, and integration of the world economy through trade and investment, have increased the role and power of regional and global institutions. This promoted and strengthened the spread of democracy while also providing the leverage for good governance. Globalisation impacts on the mode of governance that a country operates either as a symbol of universality or for uniformity. This unstoppable trend has homogenised governance on a global scale while depicting authoritarianism as unproductive political modernity. The concepts- globalisation and (good) governance have dominated international discourse for sometime now. The conceptual ambivalence and ambiguity that hover around them, however, are owing to their multidimensional and multifarious perspectives. Definitions Good Governance Before defining good governance, it is pertinent to define governance in order to use it as a point of departure to fully understand good governance. According to WB governance is the “manner in which power is exercised in the management of a country’s social and economic resources for development”. According to ESCAP governance simply means “the process of decision making and...
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...the environment. There are different levels of environmental forces. Some are close and internal forces whereas others are external forces. External forces may be related to national level, regional level or international level. These environmental forces provide opportunities or threats to the business community. Every business organization tries to grasp the available opportunities and face the threats that emerge from the business environment. The term business ‘typically’ refers to the development and processing of economic values in society. Normally, the term is applied to portion of economic activities whose primary purpose is to provide goods and services for society in an effective manner. It is also applied to economics and commercial activities of institutions which having other purposes. Business may be defined as “the organised effort by individuals to produce goods and services to sell these goods and services in a market place and to reap some reward for this effort.” Functionally, we may define business as “those human activities which involves production or purchase of goods with the object of selling them at a profit margin”. Business organizations cannot change the external environment but they just react. They change their internal business components (internal environment) to grasp the external opportunities and face the external environmental threats. It is, therefore, very important to analyze business environment to survive and to get success for...
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...Research Essay 3000 words Globalisation presents significant opportunities and challenges for business around the world. Are the environmental challenges and ethical dilemmas Fisher & Paykel currently face outsourcing manufacturing to a developing country beneficial to Australia? Globalisation can be described as the intertwining processes of the world. It is not only an economic process, which involves rising communication and integration of all countries’ economies through the growth in international trade and investment, but also the rapid cultural, social, technological and industrial exchange between nations (IYP, 2002, p. 11). Globalisation presents significant opportunities, as well as many challenges, for business around the globe. Many companies are currently making the decision to move production offshore to lower expenditure and increase profits. However, there are numerous environmental challenges, as well as ethical dilemmas involved with outsourcing. Throughout this essay I will show how globalisation is connected with the present issue of New Zealand’s ‘Fisher & Paykel’ (F&P) Brisbane plant outsourcing manufacturing of their whitegoods to Thailand. Shown by exploring the reasons and challenges involved both in the business environment and ethical arena. Such ethical issues under scrutiny at present are the loss of Australian jobs and the replacement of low wage employment offshore. After the analysis of various sources of information, it will be clear that the...
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...Globalisation, challenges and changes Ian Brooks, Jamie Weatherston and Graham Wilkinson Learning outcomes On completion of this chapter you should be able to: understand the impact of globalisation; understand the move towards greater dynamism, complexity and uncertainty (turbulence) in the international business environment of most firms; speculate about the future prospects for organisations, individuals, governments and groups in society as a result of environmental turbulence; outline the nature of chaotic and turbulent environments and the implications of these for long-term planning and flexible working; reflect on the differences between predictable and unpredictable change and the implications of this for organisations; understand the characteristics of the advantages and drawbacks of flexible working; discuss the influences that the changing international business environment and, in particular, the trend towards flexible working, have upon individuals and groups in the social community; explore environmental scenarios; discuss the future role of government and understand the environmental forces acting on public sector organisations. Key concepts dynamism, complexity, uncertainty and turbulence predictable and unpredictable change chaos theory futurology long-term planning environmental scenarios and planning flexible working demographic time bomb social inclusion and exclusion interventionist and laissez-faire government. Chapter...
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...Science On the question of science, participants on various occasions referred to some of the misunderstandings surrounding this concept. It was repeatedly mentioned that, notwithstanding general agreement among development planners and practitioners about the crucial role that science has to play in development, many lacked a common understanding of its nature or the ways in which it can contribute to the wellbeing of the masses of humanity. As the discourse evolved over several years, many of these misconceptions were brought to light. Some of them are as follows: First, the practice of science is all too often reduced to the mere application of technology. What is lost sight of is the fact that science is a system of knowledge and practice that provides the methods and tools for the systematic and structured exploration of material and social reality. By asking questions about reality and seeking to answer them through a process of action, reflection and consultation, a population acquires the capacity to take charge of its own development and to promote the advancement of civilization. Due to the existing misrepresentation of the role of science in development, attention is focused on making people passive consumers of technology rather than on building their scientific capacity. Development Development as a concept is a victim of definitional pluralism. It is a difficult word to define. However, attempts have been made by erudite scholars to conceptualize development...
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