Globalisation and Its Challenges for the Second Decade of the 21st Century

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Table of contents
1.Introduction- 4 -
2.Determination of globalisation- 4 -
3.Emergence of Globalisation- 4 -
4.Drivers of Globalisation- 5 -
4.1.1.Diminishing of Trade Barriers- 5 -
4.1.2.Technological Changes- 5 -
5.Impacts of Globalisation and its Challenges- 6 -
6.Conclusion- 8 -

(1st ed.)First edition
et al.And others
GATTGeneral Agreement on Tariffs and Trade
(n.d.)No date
NAFTANorth American Free Trade Area
USDUnited States Dollar
WTOWorld Trade Organisation

The issue of globalisation is multifaceted and therefore a short overview is provided. The structure will lead through definitions of globalisation and its history. Subsequently drivers of globalisation as well as impacts thereof are presented. Conclusively all facts are reflected and challenges for the second decade of the 21st century will be revealed. 2.Determination of globalisation

Globalisation had become a significant topic in the last decades and due to the complexity of the term it has various definitions. The following chapter tries to determine those definitions, which seem to be adequate for the scope of this assignment. “The globalisation movement is the trend toward increasing interdependencies among world markets, and the diffusion of new ideas, technologies, resources, products, services and lifestyles through international markets” (Hill, 2009, p. 13). This definition could be seen as a clear and straight description of the process of globalisation. Another definition provided by the online ‘Business Dictionary’, should be added as it points out the changing perspectives in business: “Globalization implies opening out beyond local and nationalistic perspectives to a broader outlook of an interconnected and inter-dependent world with free transfer of capital, goods, and services across national frontiers” (Business Dictionary, n.d.). As Streeten...
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