Some opine that it has made life extremely easier and comfortable. Those who are already rich succeed in taking advantage of privatization while the poor and weak are doomed to suffer. Rather, the system is more of a hybrid one in which many countries more or less peg their currencies to a few freely floating currencies.
Having its origin in the wilderness of Africa, the virus has spread like wildfire throughout the globe in no time. With globalization there has been establishment of multinational or transnational corporations.
In the free economy, the big fish has got license to eat the small fish. Today, international trade has broadened its horizon with the help of business process outsourcing.
These asymmetries have contributed to the uneven growth in the global economy for some time: The modern blazing word, globalization is the amalgamation of the home country with the world economy.
Therefore with the advancement of technology developing countries have developed technological know-how and this has lead to improvements in the industries.
These changes have stimulated demand for cross-border finance and, in tandem with financial liberalization, fostered the creation of an internationally mobile pool of capital and liquidity.
Forces driving globalization What has driven the globalization of finance. Developed countries are moving their factories to foreign countries where labor is cheaply available.
The host country generates less revenues, and a major share of the profits fall into the hands of the foreign company. This has affected the local markets dramatically.
It is therefore the process of uniting people of the world into one unit with universal characteristics. In this case, a global strategy is difficult to devise. Because of privatization, governments in many developing countries are withdrawing from the sector of social welfare, and private companies have entered educations, health and other such fields related to development.
Scope of this kind of marketing is so large that it becomes a unique experience.
These corporations contribute to deepen global interconnectedness not only by uniformly shaping consumption patterns across societies, but by binding economies together through complex supply chains, trade networksflows of capital and manpower.
Incompatible adjustment strategies could lead to undesirably low global growth. Thus the overseas laws may conflict with the company policies.
A global entity can keep some degree of uniformity in marketing throughout the world. Global strategy cannot be consistent in such a scenario.
In the free economy, the big fish has got license to eat the small fish. Monopoly is disastrous as it widens the gap between the developed and developing countries.
Thus, the final outcome in terms of financial gain enhances the GDP of the country. This has resulted in vast increase in corruption and other social evils.
May 06, · A story in the Washington Post said “20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike.
The conclusion of the Napoleonic Wars brought in an era of relative peace in Europe. Critics of globalization say that it disadvantages poorer countries. While it is true that free trade encourages globalization among countries, some countries try to protect their domestic suppliers.
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Globalization is a global economical trend that is here to stay.
It has advantages and disadvantages, and these things will not disappear. People just need to know how to reap its benefits and reduce its risks.
However, globalization has some advantages and some disadvantages. Some of these advantages and disadvantages are: What are the advantages and disadvantages of globalization?
What purpose does it serve? globalization has brought steam. As a result, it can be seen that, although globalization has been traced back to ancient.
Attention has now turned to the risks to the globalization process lurking in unresolved global imbalances. The marked change in global supply and demand conditions has not only brought economies closer together, it has also made relations more complex: Over the past 20 years, world trade has expanded by an average of percent a year.Advantages and risks brought by globalization