Essay On Globalisation

2108 words - 8 pages

IntroductionGlobalisation is defined by the IMF (The International Monetary Fund) as the increasing integration of economies around the world, predominantly through trade and financial flows. The term sometimes also refers to the movement of people (labour) and knowledge (technology) across international borders. The term globalisation has come into common usage since the 1980s, reflecting technological advances that have made it easier and faster to complete international transactions. (World Bank Policy Research Report Overview, 2002)Understanding globalisationGlobalisation can be understood as having economic, political and cultural dimensions where companies are selling products the same way throughout the world, treating it as a single market. It is the process of business structuring in a worldwide market; creating growth and profit opportunities in production and distribution. Globalisation can also be seen as the process of rapid economic integration between countries, and increasing international trade and foreign investment has further driven it. (World Bank Policy Research Report Overview, 2002)Globalisation refers to the many ways in which society is being drawn together by the international flow of goods/services, capital and information. (World Bank, 2002) The global economy assumes a kind of uniformity of demand and insight about products that operates separately of local cultural, political and traditional values and beliefs. It involves the impact that human interactions, among social and economic life, have on the natural environment and it refers to the worldwide consciousness about the human and natural world as a whole.Thus, since globalisation became such a big factor of international business and industry, it ushered in a new era of political, economic and social debate in the history of humankind. Humanity had to grapple with the dichotomy of globalisation, in time recognizing both the benefits and the drawbacks associated with globalisation. Hence over time as society became more conscious and educated about the world economy, etc. and the level of awareness about globalisation was raised questions around the consequences of globalisation were soon being posed. The question; is globalisation good or bad? was increasingly being asked.This essay will therefore discuss the value of globalisation to the world. It will focus on very pertinent issues that have been debated in the area of globalisation. These include aspects involving the drawbacks and benefits of globalisation.The Drawbacks of GlobalisationA key drawback of globalisation is that first-world countries misuse and abuse poorer and struggling third world countries. First-world super power companies and corporations see people in third world countries as cheap and inexpensive labour that can easily be controlled and manipulated. This misuse of people is easily allowed because people (labour) in struggling countries do not have the choice to use or cannot afford...

Find Another Essay On Essay on Globalisation

Corruption and Globalisation Essay

4779 words - 19 pages debates all over the world in the last few years, and they are both complex concept. Globalisation is relatively new while corruption is an old one. Whether there may be any links between the two phenomena? And to what extend they are related? This essay will attempt to explore the relationship between the two from the definitions, causes, consequences and the solutions. Corruption can be defined as the abuse of public power for private

Globalisation of Nike Essay

1441 words - 6 pages nations "catch up" to industrialized nations much faster through increased employment and technological advances. Critics of globalisation say that it weakens national sovereignty and allows rich nations to ship domestic jobs overseas where labour is much cheaper. Here are some examples of both advantages and disadvantages of globalisation.This essay makes an attempt to study globalisation in general and the impact of globalisation on the sporting

What's new about globalisation?

2074 words - 8 pages possible, evidence that although it is thought of as a modern process, it has many long established trends, as well as the significant number of developments seen in recent years. This essay shall attempt to identify some of the origins of globalisation, and show how they have developed to become worldwide processes affecting culture, business and the economy.It could be argued that the creation of the Roman Empire was the beginning of globalisation

Globalisation - Australia and Asia

2530 words - 10 pages Edward Said states, “No one today is purely one thing. Labels like Indian, or woman, or Muslim, or American are no more than starting points.” Said’s idea illustrates the evolution of relations between communities as a result of globalization, and the understanding and recognition of other cultures through the interpretation of cultural borders. In this essay I will analyse to what extent globalisation is affecting identity formation, and also

Globalisation and Maritime Security

3774 words - 15 pages ), Customs-Trade Partnership against Terrorism (C-TPAT), and Regional Maritime Security Initiatives (RMSI), where most of the U.S. regulations are based on partnership agreements . These legal frameworks and initiatives offer a comprehensive system to preserve maritime security and consequently also caused several problematical issues regarding to political legal and economical factor on states practice. This essay will review the international and

Globalisation

738 words - 3 pages identify as increased exposure to musical products and cultural styles from abroad has generated an ever-expanding panoply of hybrids without necessarily effacing more traditional styles, perhaps even encouraging them. Charles A. Perrone's and Christopher Dunn's opening essay is a riff on Chiclete com banana--a playful tune about mixing U.S. and Brazilian styles--as song, lyrics and manifesto that synthesizes the dynamics of global musical

Globalisation.

1738 words - 7 pages of global competitors are other factors encouraging companies to gain global integration.Local responsiveness requires companies' ability to deal with particular local demands. Companies are encouraged to emphasize on local responsiveness when the local market demands are diverse, products have to be tailored to local tastes so there are few scale economies in R&D, manufacturing and purchasing. Local market availability of company's product

globalisation

2458 words - 10 pages encounters experienced during my visit to Kowloon, was Harbour City (海港城) located at Tsim Sha Tsui; where many Mainland Chinese customers were easily distinguished from the Hong Kong locals, as they would carry their large empty luggage to do their shopping, eager to snag a bargain. Most surprisingly some lavished stores have also started limiting numbers of people to enter, crowed controlled by velvet ropes installed on the sidewalk. Other Western

Globalisation

1505 words - 6 pages ' decisions by corruption. As these corporations become bigger, their influence on small governments is basically in promoting bribes to governors, which leads to nationwide crises. And such corruption in any government will evenly move the country to the brink of collapse. Similar to Melese, Ravi Kiran Jain in "Loss of economic and political sovereignty of "We the People of India" by globalisation," states, "Globalisation is [the] destruction of the

Globalisation

1658 words - 7 pages impact on sociocultural aspects. Globalization has helped reduce poverty in a large number of developing countries but it must be harnessed better to help the world's poorest, most marginalized countries improve the lives of their citizens and people to make their lives much better than before.As one of the most well known debated topics in the International economics business over the past few years, globalization has become the very growing

Globalisation - 6738 words

6738 words - 27 pages : Polity Press.Beck, U. (2001) 'living your life in a runaway world: individualization, globalisation and politics', in W. Hutton and A. Giddiness. (Eds.) On The Edge. Living with global capitalism, London: Vintage.Castells, M. (1996) The Rise of the Networked Society, Oxford: Blackwell.Castells, M. (2001) 'Information technology and global capitalism' in W.Hutton and A. Giddens. (eds.) On The Edge. Living with global capitalism, London

Similar Essays

An Essay On Globalisation And China

1527 words - 6 pages Discuss the impacts of globalisation on an economy other than Australia with relation to growth and development Discuss the impacts of globalisation on an economy other than Australia with relation to growth and development Globalisation refers to the development and deepening of world markets in capital, goods and services by the increasing occurrence of commercial exchanges across national borders. This increased integration

An Essay Looking At Time Space Distinction And Television. Through Taking A Closer Look At Giddens' Theory On Globalisation. Including Bibliography.

1433 words - 6 pages Modernity, 1990, 21). Additionally this essay will broaden ones view on the impact of globalisation through television and also explain how this globalising factor is one of the largest influential mediums at this point in time.We can clearly see that the first step of this 2-way structure is "time". It is clear that television has been around for quite some time and that over the years it has become more of an everyday household item. Before

Globalisation. Essay

791 words - 3 pages widely debated aspect of globalization. The way it has been changing the world's economy has lead to some major advantages and disadvantages. Those who support globalisation say that it brings the first real chance of prosperity to the impoverished corners of the world. Opponents, on the contrary, say that globalisation is the cause of growing poverty and inequality on the planet. In this essay some of the positive sides of the process will be

Globalisation Essay 3814 Words

3814 words - 15 pages . There are many more factors, aspects and ideas which hinge on the title 'globalisation'. This essay has outlined a cross section of ideas and evidence on transnational companies, labour, equity, poverty, governments, culture and environment. Each of these elements holds social, economic and political aspects.The main economic issues fall into the labour, equality and TNC groups. We see benefits of foreign direct investment and openness to trade