Running Head: Globalization
A. An overview of globalization
A. Discussion on the positive and negative effects of globalization
A. This part of the report will cover a summary of the findings
Globalization is an increasing unity of various world economies brought about by the breaking or elimination of barriers to international trade. The barriers include tariffs, export fees and import quotas. Its aim is to raise goods, services and material wealth from a global division of labor (Robertson, 1992). ...view middle of the document...
We have examples of labor and people under globalization as net migration rates, weighted by population, Capital and Technology, which encompasses international research and development flows (Robertson, 1992).
Globalization is caused mainly by trade liberalization; this is where there are no barriers to international or regional trade. Other influences are political bias, technological growth, infrastructure expansion and socio-cultural interactions. These factors intertwine or corroborate to create powerful effects on this globe (Boudreaux, 2008).
There are various effects of globalization both positive and negative. This comprise, political which deals with the creation of supra-states and sub-state institutions like the Great Eight commonly referred to as the G8 or the European Union (EU) leads to loss of control by the member states as they dictate policies and direct reforms. There is also language influence with English being the second most dominant for communication. Its effect on ecology is brought due to low environmental regulations in third-world nations hence most cooperation’s start their factories in these countries, leading to job creation. Industrially, there is an increase in the number of international trade especially movement of goods by imports and exports. In finance, globalization has led to better access to external financing for people who would like to borrow. This enhances investing and trade across borders. Other positive effects are global market based on freedom of goods exchange, increase in information, cross-culture influence expanding knowledge of various cultures also spread of...