Economics and Globalisation
Paper Number: 152.261 International Business
Question NUMBER; 1, Major shifts caused by globalisation.
Due DATE: 10/08/2015, 4:00 p.m.
Student’s Name: Tanwani, Nishil
student ID: 15254262
Student’s contact: Phone; 0211601622, E-mail ID: nishil.tanwani@gmail.com
Lecturer’s NAME: dr. yuanfei kang
“Globalisation” is a term used for a process in which people of the world are unified into a single society to function together. It is the integration of the globe into the international economy through international trade, FDI, FPI, and immigration. The decline in barriers between the countries for international trade and investment has made all countries interdependent.
Globalization offers an opportunity for a business to develop their trade all over the globe. Globalisation not only gives an opportunity to the businesses but also to the people by creating more jobs and giving the national economy an edge by investing on the national resources. By immigration and offshoring jobs globalisation has created an impact differently on different parts of the world. For an instance, by off-shoring services or outsourcing jobs countries like India, Pakistan, Philippines and Sri Lanka.
According to International Monetary Fund “Globalisation refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. There are also broader cultural, political, and environmental dimensions of globalization. The term ‘globalization’ began to be used more commonly in the 1980s, reflecting technological advances that made it easier and quicker to complete international transactions—both trade and financial flows.”
No one can Identify the origin of globalisation according to several scholars, humans have interacted for several years
Question NUMBER; 1, Major shifts caused by globalisation.
Due DATE: 10/08/2015, 4:00 p.m.
Student’s Name: Tanwani, Nishil
student ID: 15254262
Student’s contact: Phone; 0211601622, E-mail ID: nishil.tanwani@gmail.com
Lecturer’s NAME: dr. yuanfei kang
“Globalisation” is a term used for a process in which people of the world are unified into a single society to function together. It is the integration of the globe into the international economy through international trade, FDI, FPI, and immigration. The decline in barriers between the countries for international trade and investment has made all countries interdependent.
Globalization offers an opportunity for a business to develop their trade all over the globe. Globalisation not only gives an opportunity to the businesses but also to the people by creating more jobs and giving the national economy an edge by investing on the national resources. By immigration and offshoring jobs globalisation has created an impact differently on different parts of the world. For an instance, by off-shoring services or outsourcing jobs countries like India, Pakistan, Philippines and Sri Lanka.
According to International Monetary Fund “Globalisation refers to the increasing integration of economies around the world, particularly through the movement of goods, services, and capital across borders. The term sometimes also refers to the movement of people (labor) and knowledge (technology) across international borders. There are also broader cultural, political, and environmental dimensions of globalization. The term ‘globalization’ began to be used more commonly in the 1980s, reflecting technological advances that made it easier and quicker to complete international transactions—both trade and financial flows.”
No one can Identify the origin of globalisation according to several scholars, humans have interacted for several years
References: Hu, Z. and Khan, M S. (1997). Why is China growing so fast. Retrieved from https://www.imf.org/EXTERNAL/PUBS/FT/ISSUES8/INDEX.HTM Staff, Imf. (2008). Globalization: A Brief Overview. Retrieved from https://www.imf.org/external/np/exr/ib/2008/053008.htm IFSW. (2012). Globalization and the environment. Retrieved from http://ifsw.org/policies/globalisation-and-the-environment/ Department, U. N. (2015). World Economic Situation and Prospects 2015. Retrieved from http://www.un.org/en/development/desa/policy/wesp/wesp_archive/2015wesp_chap1.pdf Yang, S. (2014). Shift in global economic power Retrieved from http://www.pwc.com/gx/en/issues/megatrends/shift-in-global-economic-power-silas-yang.jhtml Sakir, S. (2015). Globalization Is Only a Good Thing If It Benefits All Groups of Society. Retrieved from http://www.huffingtonpost.ca/salman-sakir/globalization_b_5992002.html OECD. (2014). Comprehensive action needed to shift the global economy into higher gear. Retrieved from http://www.oecd.org/eco/outlook/comprehensive-action-needed-to-shift-the-global-economy-into-higher-gear.htm Vadiamannati, K. C. (2015). Rewards of (Dis)Integration: economic, social, and political globalisation and freedom of association and collective bargaining rights of workers in developing countries. Retrieved from http://eds.a.ebscohost.com.ezproxy.massey.ac.nz/eds/pdfviewer/pdfviewer?sid=8be1c7ce-75c3-496f-ba36-45ff84afc1c8%40sessionmgr4002&vid=0&hid=4210 YEAPLE, S. and NOCKE, V. (2015). GLOBALIZATION AND MULTIPRODUCT FIRMS. 55, 2. Retrieved from http://eds.b.ebscohost.com.ezproxy.massey.ac.nz/eds/pdfviewer/pdfviewer?vid=6&sid=4668a004-8781-4c18-807d-9a89b0a88775%40sessionmgr112&hid=104 Charles W.L. Hill, T. C. a. R. W. (2015). Global business today (3 ed.): McGraw-Hill Education.