The Economic Dimension of Globalization Assignment

The Economic Dimension of Globalization Assignment Words: 445

Globalization is a phenomenon primarily economic, connecting with increased co- operation and economic integration of nations through the growth of international trade, investment and capital flows. The economic dimension of globalization is the spread of the capitalist system of the growing area of the globe and the transformation of local economies into a single “global” system. The phenomenon of globalization can be considered also in a cultural, social and political.

Cultural dimension of globalization is the result of the development of mass tourism, increased migration, centralization of cultural products and the spread of the ideology of consumption. To contribute to the development of the marketing activities of multinational corporations and the development of mass communications. The process of economic globalization manifests itself: in the form of various types of structures economic cooperation, the development of large international companies and institutions.

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Also formed organizations that are intended to create the world’s economic order. The main distinguishing features of the globalization of the economy are: Ђ Integration International interdependence The close relationship of science, technological progress and organizational Rapid flow of information and goods As a result of political globalization created such international organizations as the World Bank, the International Monetary Fund and the World Trade Organization. There are many arguments for and against globalization.

Here are some of them: Arguments in favor of globalization: 0 may lead to the development of new forms of governance and the extension of necromancy in all countries of the world, and as a result – the creation of a new peaceful world system eliminate barriers to trade, the flow of imports and exports 0 thanks to globalization, there has been progress in the field of communication (telecommunications, telephony and Internet), making communication between people quickly and efficiently 0 globalization process allows the integration of people with different cultural background 0 activities of the International Monetary Fund and the World Bank allows the rationalization of the principles of the countries effected by the crisis, helping implement rehabilitation programs 0 people in poor countries get employment, they can work and earn money through investments of multinational corporations; reduced poverty and unemployment The arguments against globalization: The Economic Dimension of Globalization By logged independence, destroying the local culture and traditions. Enforces the introduction and implementation of the standards of Western 0 growing gap between rich and poor countries in the world; 0 the world is a “global village”, costive or negative economic events in one part of the world affect the functioning of countries and companies around the globe 0 exploitation of workers and farmers, even children are forced to work in poor countries Things have already gone very far.

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The Economic Dimension of Globalization Assignment. (2019, Jun 15). Retrieved November 30, 2021, from