GLOBALISATION

Globalisation

Globalisation

Introduction

Globalisation is defined as the ongoing process of flow of investment and trade and integration of the worldwide economies. It raises the living standards of the nations and creates open ways for the market to do their business worldwide. Globalisation has increased the wealth of many developing countries and eliminated the poverty. Globalisation promotes free market that is significant to the healthier lifestyle. However, not all the countries are benefiting from globalisation. Globalisation raised inequality among the countries. It also degrades the overall economy. Globalisation is the real change in a life that is not same for everyone. It means that globalisation is not beneficial and useful for all the countries.

Discussion

What is globalisation?

Globalisation means increasing and improving relationships of economic activity, people, and cultures across the world. Globalisation is commonly known as economic globalization. It is beneficial for the developing countries because globalisation has given opportunities to the developing countries. Globalisation promotes technology, living standard, and productivity. Globalisation dropped the barriers of trade that did not use to allow one country to easily trade its products in other countries; and, amplified the production of goods, globally. The restrictions on moving the capital decreased, it includes; export fee, tariffs, and import quotas. In addition, globalisation reduced restrictions also on investments. Globalisation improved the economic growth of the developing countries and developed countries by improving the technology and innovations aspects that improved the life style of people and opened opportunities for more productivity of the countries. In a dynamic environment, better relationships with other countries are essential for increasing one's own economic growth (Ray, 2007, p.2-3).

Examples of globalisation

At several levels, the countries become interdependent on one another. Some common examples of globalisation are technology, outsourcing the business activities, and mixing the cultures. In today's world, there are numbers of examples ...