GLOBALIZATION

Globalization

Introduction

The term "Globalisation" has taken his own life. It became a kind of mystical, romantic term. Globalisation is seen as useful things, even cosmopolitan thing "hip". It can be seen as cutting edge, to "go global". Many people believe that globalization is a great power which the world closer to each other. There's even a nice new phrases like "global village" that make us feel good about globalization bringing us ever closer to each other(Orozco Hilliard 2004 44). But when we think about the fact that globalization in fact - when we look beneath this surface glamour - we can see the true meaning of the word and the true supporters of this phenomenon. The positive impact of globalization

Globalisation is the new slogan in the world economy, dominated the world since the nineties. People rely more on market economy, there was more faith in private capital and resources, international organizations have begun to play a vital role in the development of developing countries (Tiplady 2003 276). The impact of globalization has been fair to the developing countries to some extent. It brought with it many opportunities for developing countries. This gave an impetus for greater access to developed markets. Transfer of technology promised greater productivity and thus raises living standards.

Trade in goods and services - from the theoretical side, international trade provides the distribution of various resources, which should be consistent. This specialization in the processes leads to better performance. We all know that from an economic point of view that restrictive trade barriers in countries with developing economies only impede growth. Emerging economies can benefit from international trade, unless all resources are fully exploited. Here, the importance of reducing tariff and nontariff barriers arise.

   The movement of capital - industrial base of the economy gets increased due to capital flows between countries. This was very true in 19 and 20 centuries (Nancy 2007 134). Capital mobility is enabled only savings for the entire globe and exhibited a high investment potential. Country's economic growth will not occur, however, get banned by domestic savings. Inflow of foreign capital plays an important role in economic development. To be specific, capital flows, or may take the form of foreign direct investment or portfolio investment. Developing countries certainly prefer foreign direct investment as portfolio investments have no direct impact on the productive capacity expansion.

Financial flows - capital market development is one of the main features of the globalization process. We all know that the growth of capital mobility and currency markets has improved the transfer of resources across borders and the major global currency markets has improved. It is mandatory to engage in expansion of currency markets and thus facilitate the international transfer of capital. An important example of such an international transfer of funds has led to financial crisis - which by now have become worrying phenomenon.

Thus, globalization fair and coarse fraction of its impact, and thus we can surely hope for more improvement in the global economy in ...