Globalization: Prosperity or Poverty
Globalization: Prosperity or Poverty
Introduction
Globalization is a word that has recently become a commonplace in two different ways. Firstly globalization inspires visions of global village, a place where by all citizen of the world is linked together with high technology system. On the other hand, globalization is the one of the consequence that local factory closed down and re-open at another corner of the world where the country with cheap labor and weaker environmental law.
Globalization as it exists today is not fully understood and impacts are unclear. It is because globalization has wide variety of combinations that affecting every aspect of life. In this report aims to explore world issues to analyze two statements: prosperity and poverty.
Throughout this report many of the issues that will be examined by four important issues which influence prosperity and poverty in farther chapters; Economical, Technological, Political and Cultural Globalization.
Economic Globalization
Changing Economies
In the past, a company tended to be identified with one particular country. For example Toyota started with their ownership, production and their market were primarily located in Japan. Today in the globalized world, growing number of huge companies including Toyota, are Multi National or Transnational in nature. Since they have integrated operations across the world. They maximized their work. The economist Karl Marx’s quotes “The working men have no country” (Marx, 2002, Pg.17) pretty much make sense of this.
According to Fortune magazine publishes a list of the Global 500, which contains the 500 largest companies in the world based on their annual revenues. For example, In 2008 Toyota’s revenue of USD 230 billion is comparable to the size of the entire economy of Bangladesh’s GDP of USD 224 billion with 156 million population. (CNN, n.d. and CIA, n.d.) As we can see the number of GDP in the process of globalization, the wealthy is based on own
Introduction
Globalization is a word that has recently become a commonplace in two different ways. Firstly globalization inspires visions of global village, a place where by all citizen of the world is linked together with high technology system. On the other hand, globalization is the one of the consequence that local factory closed down and re-open at another corner of the world where the country with cheap labor and weaker environmental law.
Globalization as it exists today is not fully understood and impacts are unclear. It is because globalization has wide variety of combinations that affecting every aspect of life. In this report aims to explore world issues to analyze two statements: prosperity and poverty.
Throughout this report many of the issues that will be examined by four important issues which influence prosperity and poverty in farther chapters; Economical, Technological, Political and Cultural Globalization.
Economic Globalization
Changing Economies
In the past, a company tended to be identified with one particular country. For example Toyota started with their ownership, production and their market were primarily located in Japan. Today in the globalized world, growing number of huge companies including Toyota, are Multi National or Transnational in nature. Since they have integrated operations across the world. They maximized their work. The economist Karl Marx’s quotes “The working men have no country” (Marx, 2002, Pg.17) pretty much make sense of this.
According to Fortune magazine publishes a list of the Global 500, which contains the 500 largest companies in the world based on their annual revenues. For example, In 2008 Toyota’s revenue of USD 230 billion is comparable to the size of the entire economy of Bangladesh’s GDP of USD 224 billion with 156 million population. (CNN, n.d. and CIA, n.d.) As we can see the number of GDP in the process of globalization, the wealthy is based on own