GLOBALIZATION EFFECTS ON UK ECONOMY

Globalization Effects on UK Economy

Globalization Effects on UK Economy

Introduction

The UK economy has a high degree of dependence on foreign trade and integrated into the global economic relations. The value of British exports equivalent to 25% of national GDP. In terms of foreign trade of goods and services to the UK is among the leading world powers, taking 6th place among world exporters in terms of exports of goods and 2nd-largest service export. The share of imports of goods and services in domestic consumption is even higher and closer to 40%. UK, a member of the World Trade Organization and the European Union, largely builds the legal regulation of its foreign economic relations in accordance with their requirements, in particular, the use of preferential tariffs and access to markets, and the most favored mechanism for resolving trade disputes.

Before talking about the place and role of Europe in a globalizing economy, it should be defined with the concept of "economic globalization". In recent years the term became fashionable, conventional wisdom and used anywhere and anyhow. Often it is used as a synonym for the internationalization of economic life and the growing of national economies in the world economic system, or as equivalent to the liberalization of international trade and investment, or even as another expression of the process of integration of national economies. This terminology "dimensionless" confuses and impedes understanding of this historically new and really important process. So that the reader understands what will be discussed in this section, from the outset be clear in the terminology.

The internationalization of economic, political, cultural and other aspects of life in social organisms, functioning as a national and state macrostructure - the most general concept of increasing the interaction between these organisms (countries), that is of international (cross-country) to communicate in various stages of history - from the first manifestations of the international division of labor to the modern complex and multi-level system of international relations and interdependencies, and, in its various spatial scales - from bilateral to regional and global levels.

Description and Analysis

Our world is currently characterized by rapid changes that have arisen in all areas of human relations and exchange of ideas, products of all kinds, scientific discoveries, innovations technology, lifestyles, values ??and all kinds of expressions of culture, art and religion. We are living and experiencing every day the effects of multidimensional phenomenon known as "globalization." Undoubtedly, globalization presents new challenges for institutions social, political and religious of all countries as it has given rise to new and complex social, economic and political, and these in turn, have accelerated existing conflicts from the previous era, and have in a series of unequal exchange which substantially affect the life and the development process of individuals and social groups weaker. For some time that people and organizations of all types have been analyzing and discussing to what extent the phenomenon of globalization, at the same while providing opportunities for economic growth (not development) for all countries, leads in turn, huge ...