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The Impact Of Political, Economical, Legal, And Technological Factors On Globalization

1791 words - 7 pages

Introduction
The researcher will examine and analyze the future of globalization and the impact of political, economical, legal, and technological factors on global business. Also, the researcher will analyze the financing and trade issues of the different types of economic systems.
Impact of Political Factors on Global Business
The impact of political factors on global business is vital to the success of businesses. An unstable political environment will have a negative impact on global business. Countries experiencing political unrest, wars, and acts of terrorism will deter other countries from entering into global business agreements. Analyzing China’s political factors predicts China will lead the world in global business in 2020. China’s change from red communist to orange peril is what will lead the country in having a positive impact on global business. Also, China is the second biggest country using Purchasing Power Parity (PPP) which has a significant positive impact on the growth of businesses globally. China’s political leaders’ decision to make changes in how business is conducted is one of the main reason the country purchasing power parity has greatly increased and the cause for economy and global business growth (Kennedy, 2005).
Underdeveloped countries political leaders and decision-makers have a better understanding of how changes in laws, regulation, and policies could negatively impact on the country entering and/or expand global business. Further, underdeveloped countries understand the importance of building partnership with other countries in order to have a positive impact on increasing global business. In some cases, there are still some countries, whether developed or underdeveloped experiencing global power struggles due to conflicts over policies and laws. The political impact on global business also includes countries struggling with political factors such as states, conflict zones, and political ideologies. Changing policies, laws, procedures, being open-mind, and supporting changing in the political arena are political factors that will increase global business and increase economic growth (Unay, 2011).
Impact of Economical Factors on Global Business
The impact of economic factors on global business can be both positive and negative. Positive economic factors occur when foreign countries have policies, procedures, and laws in place to support the growth and protect global businesses. New businesses product job which aid in decreasing the unemployment rate, increase spend which helps in pouring funds back into communities, decreasing poverty, and strengthen currency. Furthermore, other economic factors which impact global business government trade policies, technology, and migration of labor, capital and environmental degradation. Changes in government trade policies have allow global businesses to increase consumer goods and services without barriers. Underdeveloped and developing countries...

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