“Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages” (What is globalization). For centuries many people and companies had invested in other countries even before the First World War. Globalization is a huge issue, because it affect on all the people around the world. It can affect in several of ideas, cultures, local and regional economics, societies, communication, and trade. Globalization can influence the environment of the people, security, and the exchange of the ideas between the countries. It distribute in a fast way, which emerge of new technologies, rise in free-trade activities, and markets worldwide acceptance.
During the past two decades, many governments have changed their policies and opened free-market economic system, taking the opportunities of international investment and trade. Also, they reduced the barriers to exchange and signed many international agreements to promote trade and investments.
Mostly, the issue that people think in globalization is the trade in good and services. It is one of the most noticeable aspects in globalization, however, not only the local trade is known but also the international investments are the one that brings the world together. This type of investments can change whole methods of products through the transfer of technology, knowledge, and management techniques. Moreover, globalization and the foreign investments put up many questions about the change of culture, political relationships, and economics around the world.
Globalization can be explained as the movement of economic and social ties through spreading many institutions that can change the economic and social perspectives. It can affect on the countries in three fields, economical, social, and cultural.
This paper will focus on the meaning and theory of globalization, the good and bad influence of globalization, and to focus on the case of Dubai from the region. UAE became a major player on the economics internationally, and Dubai has a global image of commercialism, modernity, and internationalism. Because of not having taxes, many foreign companies opened their offices in Dubai, such as Microsoft and Exxon-Mobile.
Globalization meaning and theory
Globalization has many meaning and concepts. BBC defines globalization as the process, which the entire world becomes more interconnected, which will result by the increase of cultural exchange and trade. Also, it increased the production of good and services, which led that the known companies are having their offices and branches in other countries not only locally. Another concept by the organization of globalization 101, it defines the globalization “Globalization is a process of interaction and integration among the people, companies, and...