ECONOMIC CONSEQUENCES OF GLOBALIZATION ON TELECOMMUNICATION INDUSTRY Case of Vodafone
ECONOMIC ANALYSIS OF GLOBALIZATION3
GLOBALIZATION OF TELECOMMUNICATION INDUSTRY- CASE OF VODAFONE4 CONSEQUENCES OF GLOBALIZATION ON TELECOMMUNICATION INDUSTRY- CASE OF VODAFONE4 EVALUATION AND CONCLUSION6
While discussing the topics of trade, development and political economy, globalization is often discussed. In general, globalization means a process in which world economies become highly integrated, leading to a global economy and highly global economic policymaking, through international agencies such as the World Trade Organization (Todaro & Smith, 2006). Since late 1980s, the increasing globalization in the manufacturing sector and service sector has also globalized the telecommunication industry. A large number of telecom companies are expanding rapidly from their home countries to other countries in order to increase their customer base and their sales, off course. Globalization has with it many challenges and economic benefits too. For many economists, globalization can cause serious troubles in the whole world, such as inequality is accentuated, environmental degradation, and dominance of rich countries etc. But at the same time proponents of globalization are of the view that globalization leads to the rapid growth of knowledge and innovation and improved living standards.
ECONOMIC ANALYSIS OF GLOBALIZATION
How globalization occurred or which forces gave birth to this phenomenon? The three chief economic and financial indicators that led to globalization are: The international trade of goods and services, the widening and freeing of trade has led to globalization to increase at a rapid pace. The greater flow of capital because of growth of global capital markets. Globalization of financial sector is the most influential aspect of economic globalization. The greater movement of...