...Causes of Globalization While it is truethat state ventures (or adventures) have at times driven the process, e.g. the colonial conquests, the globalization process has largely reflected market forces, specifically, the exploitation by large and smaller businesses in the world of benefits from trade in commodities, goods, services, capital, and even labor, and of opportunities for new investments and markets. The process of global economic integration was perpetrated at the behest of World War II, when the leaders of Britain and the US helped establishing the World Bank and International Monetary Fund in 1944 to promote a liberal, capitalist world to counter the shadows of Socialism and Marxism. The loans are granted by IMF and WB on the condition that the borrowing country will reduce the state's role in the economy, lower barriers to imports, remove restrictions on foreign investment, eliminate subsidies for local industries, reduce spending for social welfare, cut wages, devalue the currency, and emphasize production for export rather than for local consumption. Such conditions imposed laid the basic foundation to open economies to steer the mechanism of economic integration giving birth to the World Trade Organization. By mid 1950s Pakistan had become a favorite candidate for receiving the benefits pledged by President Truman, having joined the network of international defense treaties with the United States. It marked the beginning of...
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...We indeed live in an increasingly global world in which our everyday lives are shaped by decisions and events, some of which we have little or no control over. Culture, economics and politics appear to come together across the globe through different ways of information, ideas and knowledge, and the investment strategies of global corporations. Globalization can be defined as a process of international integration arising from interchange of world views, products, ideas and other aspects of culture. Suarez-Orozco and Qin-Hillard (2004) claim that globalization defines our era, it is what happens when the movement of people, goods or ideas among countries and region accelerates and globalization tends to dispatch social practices and cultural formations from localised territories. There are so many other definitions of globalization and there a four key concepts according to David Held which interprets globalization, these concepts are; Stretched social relations, intensification of flows, increasing interpenetration and global infrastructure. i. Stretched social relations is the existence of cultural, economic and political networks of connection across the world, these are all stretched across nations of the world and this leads to regionalization which can be defined as the interconnectedness between ‘geographically contiguous states’ that border each other, for example Europe, (Held,2004,p.15). ii. Intensification of flows is a concept associated with stretched social...
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...OUTLINE OF CHAPTER 1: GLOBALIZATION Opening Case: Flat Panel Televisions and the Global Economy Introduction What is Globalization? The Globalization of Markets The Globalization of Production Country Focus: Outsourcing American Healthcare The Emergence of Global Institutions Drivers of Globalization Declining Trade and Investment Barriers The Role of Technological Change The Changing Demographics of the Global Economy The Changing World Output and World Trade Picture The Changing Foreign Direct Investment Picture The Changing Nature of the Multinational Enterprise The Changing World Order The Global Economy of the Twenty-First Century Country Focus: India’s Software Sector Management Focus: China’s Hisense-An Emerging Multinational The Globalization Debate Anti-globalization Protests, Globalization, Jobs, and Income Globalization, Labor Policies, and the Environment Globalization and National Sovereignty Globalization and the World’s Poor Country Focus: Protesting Globalization in France Managing in the Global Marketplace Chapter Summary Critical Thinking and Discussion Questions Closing Case: IKEA—The Global Retailer CLASSROOM DISCUSSION POINT Ask students to describe how international business has affected them in their day so far. Ash them about who made the clothes they’re wearing, what type of food they ate for breakfast or lunch (muesli cereal, sushi, Italian-style...
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...and analyze how globalization and other factors have had an impact on them from a social, political, and economic perspective. During the late part of the 20th century, the International Monetary Fund and other organizations collaborated with countries that were struggling economically and offered financial assistance and the creation and implementation of policies. Globalization has had a significant impact on countries around the world; both positive and negative outcomes have resulted from various factors pertaining to globalization. Revolutions such as the Arab Spring uprisings have been influenced by aspects of globalization, such as the changing political sphere and the unstable economic market. Furthermore, the revolutions are more successful in contemporary times as opposed to fifty or one hundred years ago because globalization has provided the world with many comforts, such as the convenience individuals possess in the usage of technology—namely social networking websites. Therefore, it is important to analyze and examine the social, political, and economic changes that have been brought about by globalization, the changing global-politics, as well as social and economic issues that may have caused by or formed after military conflict. India and Vietnam are two countries that are quite similar in terms of GPD per capita rates, life expectancy, and other factors and are a perfect set of nations to examine and analyze in terms of the impact globalization has had on them...
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...Introduction This current wave of globalization has been determined by approaches that have opened economies locally and in the whole world. Since the Second World War, and particularly amid the previous two decades, numerous governments have received free-advertise financial frameworks. This has made them to immensely expand their profit potential and making new open doors for international trade and venture. Governments likewise have arranged emotional decreases in boundaries to business and have made international assertions to advance trade in products, administrations, and venture. Exploiting new open doors in outside markets have fabricated remote manufacturing plants and made a generation and advertising game plans with outside accomplices. A characterizing device of globalization, subsequently, is an international technological and monetary business structure. Technology has been the other driver of globalization. Propels in data technology, specifically, have drastically changed financial life. Data innovations have given various types of individual monetary performer's buyers, financial specialists, organizations profitable new instruments for distinguishing and seeking after monetary open doors. Globalization is profoundly disputable, in any case. Defenders of globalization contend that it permits poor countries and their natives to create monetarily and raise their expectations for everyday life. Rivals of globalization claim that the production of a liberated...
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...describing.” The global economy as a worldwide economic system began ca. 1500 with the rise and spread of commercialism and has evolved into an expanding system of industrial capitalism. The primary driver of globalization is rapid technological change in core countries and their ability to dominate production of consumer goods to the rest of the world. It involves the increasing interdependence of national economies, financial markets, trade, corporations, production, distribution, and consumer marketing. By its very nature, globalization draws attention to the economic and technological aspects of life, and to change at the level of culture or identity. Globalization draws attention to the role of transnational corporations in creating a global market and system of production; to capital markets in creating an integrated financial system; and to bodies such as the International Monetary Fund (IMF) in disseminating a particular view of the state's role within the international economy. The idea of globalization is the object of controversy. Some of the more dramatic and simplistic versions of the globalization thesis have been challenged by scholars and journalists who are skeptical about the actual extent of transnationalized economic activity. The hyperglobalist perspective contends that history and economics have come together to create a new order of relations in which states are either converging economically and politically, or are being made irrelevant by the activities...
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...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 Vietnam doing in Burundi? Abstract Viettel is a mobile provider from Vietnam, is operating in more than one country in Africa and has a 95 percent market share in Burundi. In this paper I will review different effects of globalization. With globalization I mean the international integration of markets in goods, services and capital. Further, I will outline the different choices of market entries. Finally, I will develop a conceptual framework which could be used to analyse the strategic move of Viettel to operate in Burundi. Introduction In summer 2013, I visited Burundi for two weeks with a group of young people. We had raised a charity fund and were now operating and realizing our targets. One thing I noticed when I was there, were the many advertisements for Viettel (a provider of a mobile network) and the large amount of people who have got a mobile phone or smartphone. And this was impressive, because it is one of the poorest countries in the world. So I have been looking for the provider Viettel, which was the dominant provider there and found a recent news article with the following title: “Vietnam's Viettel Wins Mobile Operator License in Burundi” (Davis, 2014). It says that the Vietnam’s military owned mobile network operator Viettel has won a mobile operator licence in the African country of Burundi according to local news reports. It states that a holding company, Viettel Burundi will own 95% of the mobile network. On the occasion of this news,...
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...organization became more indiscriminate in its violence with a spate of bombings (Schneider). Boko Haram has also been involved in many kidnappings as they spreaded around the borders of Chad, Cameroon, and Nigeria. As the attacks and kidnapping got worse, it was bound to happen that this issue would like go national. The most high profile act was done in 2014, where they kidnapped the traditional ruler of Cameroonian Town (Schneider). The battle with Boko Haram has been steady, but the war isn’t going to end any time soon. They need more government help, economic development, advanced technology, and more time to prepare. There are many theoretical perspectives that could related to this national issue. Two theoretical perspectives that play an important role in this are functionalist and conflict theory. Functionalist perspective interprets how each part in society plays an important role to the stability of society as a...
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...dos se implica la sociedad ya que es la afectada de lo que resulte esta situación. Es fácil distinguir los límites de cada parte en este tema ya que el que tiene la mayor responsabilidad es el estado. 2. Review the basic elements and features of the IPE approach: the three main theoretical perspectives, the four structures, the levels of analysis, and the types of power. Which ones do you feel you understand well and which ones need more work? Los niveles Individual y el de los estados son los más fáciles de comprender ya que se pueden estudiar sin tanto conflicto, pero el sistema internacional: el conflicto internacional a veces es causado por la naturaleza conflictiva del hombre. 3. Define and outline the major features of globalization. Explain the connection between economic liberal ideas and globalization. Which of the three IPE perspectives (or combination of perspectives) about globalization do you agree with most? Globalization is important because it has framed the four structures of the international political economy outlined above. Many of the rules and processes related to trade, money, technology, and security reflect this popular concept. Globalization has brought about a significant change in the way...
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...can correctly determine how a government can best secure them. The source is explaining that if we accept that a force gives our rights to us more powerful than man alone, we must also acknowledge the fact that they can be denied as well. The author’s perspective is that man creates government, and people cannot delegate a power that they do not possess. This source presents a negative perspective towards globalization because it illustrates that our rights only exist when our government says they do....
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...Q. Explain How Changes In Technology Have Contributed Towards Globalization Of Markets And Of Production? Answer: Technology has dramatically changed people's way of life all over the world and the world today has become a true manifestation of a global village. Not only the frequency of international travelling increased manifold but the possibilities of cross-border trading of goods and services have also increased exponentially. These impacts are collectively known as globalization. (Hill, 2009) defines globalisation as a process which enables individuals, organisations and governments from different natins to come across each other and interact in an intergative manner. The end result of such intergation would be an intergated globalised market system which can act as a melting pot of indivual economies of different nations. There are two ways in which globalisation can be envisaged, i.e. with the production perspective and thebmarket perspective. (Hill, 2009) defines the markets' globalisation as melting down and convergence of individually independent market places into an amalgamated market place. Sharing of the sources of production from different geographical locations for levaraging the quality and cost of the goods and services produces is the idea behind the products' globalisation. (Hill, 2009) Many institutions have been formulated to help manage, regulate and police the phenomena of globalization and to promote the establishment of transnational treaties for...
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...Samantha Castro MAX 132 Globalization Globalization is the process of integration and standardization among the people of the world’s nations. The goal is to have a world where the development and growth of nations’ governments, businesses, economies and technologies are equally met. When analyzing globalization, growth and development is measured through gross domestic product (GDP). GDP is the calculation of a country’s annual data report of its national income. There is an ongoing debate on how people view, and where they should stand on the movement of globalization as a whole because of the way it impacts the world. Some analyst will argue that globalization can only be beneficial. These are...
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...Cross Cultural Perspectives: Wal-Mart ETH/ 316 June 11, 2012 Laura Brodkey-Scott Cross Cultural Perspectives: Wal-Mart Introduction Wal-Mart is defined as the giant of retail and it is one of the largest companies in the world. It has grown to not only be a staple in America but internationally as well, touching base in countries such as Japan and China. It is a popular supercenter that is located worldwide. Wal-Mart is the largest retailer and the largest company in the history of the world due to globalization and this due to the way they conduct business operations. Wal-Mart management has implement ways to overcome the challenges that are presented the ethical and social responsibilities in regards to globalization. This paper will present a breakdown analysis on how Wal-Mart has conquered the challenges of globalization and how they manager to remain the largest profit-making organization both in the USA and globally (Rosenfeld, 2007). In addition the paper will breakdown how the organization deals with ethical perspectives within this global icon known as Wal-Mart. Globalization Wal-Mart management embraced globalization and used it to develop a monopoly of international markets across the world. Wal-Mart has supercenters in the following countries: Mexico, Canada, Brazil, Japan, China and India. According to Glynn Davis (2008), Wal-Mart’s international market gives us a vast idea of the variety...
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...Globalization and its Aftermath By Douglas Kellner Globalization has been one of the most hotly contested phenomena of the past two decades. It has been a primary attractor of books, articles, and heated debate, just as postmodernism was the most fashionable and debated topic of the 1980s. A wide and diverse range of social theorists have argued that today's world is organized by accelerating globalization, which is strengthening the dominance of a world capitalist economic system, supplanting the primacy of the nation-state by transnational corporations and organizations, and eroding local cultures and traditions through a global culture. Contemporary theorists from a wide range of political and theoretical positions are converging on the position that globalization is a distinguishing trend of the present moment, but there are hot debates concerning its nature, effects, and future. Moreover, advocates of a post-modern break in history argue that developments in transnational capitalism are producing a new global historical configuration of post- Fordism, or postmodernism as an emergent cultural logic of capitalism (Harvey 1989; Soja 1989; Jameson 1991; and Gottdiener 1995). Others define the emergent global economy and culture as a "network society" grounded in new communications and information technology (Castells 1996, 1997, and 1998). For its defenders, globalization marks the triumph of capitalism and its market economy (see apologists such as Fukuyama...
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