What is globalization? Who are the biggest winners and losers in a globalized world? Globalization has become a widely used word to describe the trend of free flow of capital, technology, information and service; it is not just an economic phenomenon. It also has political, social and cultural dimensions. Even in its economic dimension, there are major differences depending on the scale (e.g. macroeconomic or microeconomic) and the viewpoint. When concerning the question of who are the winners or losers, the answer is not conclusive. This essay will firstly give reader the definition of the globalization, and then argue the winner and loser by analysing the impact of globalization on different counties. Globalization refers to a process of increasing interconnectedness, integration and interdependence among not only economies but also societies, cultures and political institutions. .It has been encouraged by declining trade barriers and technological change , the economist argues Globalization(1995,p.3) is based on two macro factors ,the first is the decline in the barriers to free flow of goods ,service, and capital, during the 1920s and 30s,many of countries erected barriers to international trade to protect domestic industries ,it is until the world war 2that the west nations started to remove the barrier to free trade,. Many governments opened their economies to the world\ decreasing the use of protectionist measures like tariffs and deregulating many markets in order to gain efficiency through free trade. The second factor contributing to globalization is the change in technology, particularly the rapid development of transportation,. This general decrease in transport costs also made freighting less expensive, making transport costs over long distances fall so; exported goods became cheaper and more competitive, contributing to the growth of international trade. Due to globalization, firms have gained the ability to locate their production...
Bibliography: ‘Who wants to be giant ‘, The Economist (June 24 1995), pp.3-4
‘Globalization hidden benefit ‘Yale online magazine (2012)
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