GLOBALIZATION

Impact of Globalization on Japan's Technological Industry

Impact of Globalization on Japan's Technological Industry

Introduction

The integration of markets on the global forum is known as Globalization. The global integration of markets is established through cross country flows of goods and services, ideas, information, capital, technologies, people and finance. The historical process of globalization has been through many types of ebbs and flows. Examining the history of globalization, its roots can be found as early as during the period of Pre World War I during 1870-1914. During the First World War the rapid integration of economies in terms of migration of people, trade flow and movement of capital are all significant to the process of 'globalization'. The prominent growth in the process of globalization has been led due to the significant development in the field of communication and technology. In addition to the significant development, increased flow of people and trade across the geographical boundaries due to fewer barriers has enlarged and enhanced the process of globalization (Button, 2013, p.1).

The multinational corporations are considered the major agents of globalization. In addition to the advantages, the process of globalization has affected the multinational companies in many ways. Hence the impact of globalization process on the multinational corporations across the globe can be bad or good depending upon the nature of business and operation of an organization. Among the most successful multinational corporation, countries like Japan, China, UK and USA have by far led the market as global leaders. The process of Globalization has hit these countries and their multinational corporations in both bad and good way. The process of globalization has a profound impact on the Japanese market and economies influencing the business operations, levels of international trade, government policy, financial flows and the labor market and the environment (Button, 2013, p.1).

Globalization and Japan

Considering the economic development and the growth the Japanese economy stands the second largest in the world. It is affirmative impact of globalization on the economy and market of Japan that the living standards and literacy level of the people is comparatively high in comparison to other countries. In addition to the profound living standards, the distribution of money and the level of income inequality are comparatively equal in Japan. The immense growth of Japan as a government and economy has been aided through the prominent economic growth due to globalization (Park, 2013, p.1). The creation of new Japan is primarily because of the movements driven by trade liberalization, numerous TNCs, abundant strategies and the deregulation of the financial system. These movements have been significantly adopted by the economy and the Government of Japan (Stuart, 2012, p.1).

History of Japan Industry and Economy _ Globalization

The History of Japan entails the isolation of the country for more than 250 years. The isolation cutoff's Japan from the world by diminishing the diplomacy and trade relation from the world. The Japan at present is completely different. It has overcome its seclusion and now resolutely stands as one of the largest economies of the ...