Globalization and its effects on the economy
|Topics:||🌎 Globalization, ⏳ Social Issues, 💱 Macroeconomics, 💳 Microeconomics|
Globalization can be described to be the way in which people from the various geographical and the cultural divide comes together for the purpose of during business. The individuals can exchange the different ideas and cultures that they got from their original origin. Globalization has led to the improvement of the living standards of people and also the economy as a large. In this research task, it tries to show this through the answering of the various questions as indicated below (Gonchar).
The interest of this work is to investigate the way in which the globalization has impacted the society as a large. The investigation will also try to view the background information pertaining the same which will give the history of the same over time. It will also consider the impact of the same on the society and why we view the impact has come in that way. The negative and the positive effects of the practice will be investigated as well (Gonchar).
Globalization has evolved over the year from the different locations or the geographical places in the world. In the 13th century, various parts of the world had the opportunity to experience the fruits of globalization. Some of the regions on the world map included the Northern Europe, China, Egypt, Eastern India and Middle East countries (Gonchar). The dawn of the globalization can be divided into various divisions. One of the core section was in the Eastern region was able to have a significant influence on the Western nations. The next was through the process in which the Asian continent, the North Africa, Europe and the Middle East were able to interact together to bring about the change in the sector. One interesting thing is that the nations were able to have the great contact even though they were located far from one another (College).
The coming up of the technological advancement was an essential process that aided in the far nations to identify the present of the possible countries that they could be able to carry out business with. In the early years, it was established that the countries were able to be self-sustaining. In this thought, it means that the nations can produce all the things that they need without the dependency on the other. This process was deemed to be the one that led to the development of the global ties in the archaic duration. The period was also marked by the less participation of the European nations (College).
The second phase of the globalization process was during the 1600-1800 years. In the period, it was quick to note that there was the abrupt exchange in the cultural practice and the increase in the trade between the various players. In this period, most of the powerful nations that carried out the business included Spain, Britain and Dutch. The distinction that comes from the early and the modern method is the fact that the recent approach has a lot to do with the management of the trade at the global sector (Elsner).
The modern globalization started in the 19th century whereby the presence of the industrial revolution happened. Most of the nations were able to participate in the international trade with the production of most of the products by the use of the economies of scale. In this, the greatest effect of the goods was achieved through the manufacture of the products to a significant volume (Elsner).
Globalization has led to a lot of force in both the economic as well as the social sector. Some of the effects have been positive while others have been negative. Some of the benefits of globalization include the independence of the women in the playing part of the business activities. This process has been shown in the place whereby the number of women that have joined the workforce has advance increased. It is quick to note that in India alone, the number of women that have been employed in the local and nearby factories has adversely increased (Paul).
The other effect of the increase in the globalization has been the adoption of the automation of most of the activities that the firms engage in. For example in China, more and more robots have replaced the human workforce in the various sectors. The robots have been able to work efficiently with minimal tool down and less use delay in the different projects. The development of the automation of the different sector in the factories has had the adverse effect in that more and more human workers have been laid off for the robots to take their part in the same. The robots have hence resulted to the harmful effect in the human resource department (eResource).
The other positive effect for the use of the globalization is that people have been able to exchange the learned behavior amongst each other. In this way, it has resulted in the combined efforts that have led to the improvement in the business sector. More and more players can accommodate each other in the business world. The more people can interact the more they will be able to succeed in the long term basis (eResource).
The impact of globalization on the society is that it has been able to improve the living standards of people. As more people can move from the border restriction of their nation to the worldwide spectrum, they can be more open-minded. As they can interact with a lot of individuals, this will mean that the people will have the broadest knowledge of how to do business. When they can bring the ideas that they learned in the outside world to their countries, they will be able to attract a lot of revenue from the exchange of the ideas. By the use of this way, their average life will be upgraded to suit the kind of income that they can get from the same (Paul).
The globalization sector will remain to impact the humankind for the longest period. This process is due to as more and more people do business they will always have something that they will exchange for the benefit of the other. As the world is continually becoming a global village, people will be able to interact more for the interests of the society. What is taken to be the up to date technology today, will tomorrow be replaced by a new form due to the new ideas that the people have continuance upgrade. With the proper use of globalization, people are deemed to advance in the day to day activities for the benefits of the future.
- College, Mesa. “Off-Campus Eresource Access – Paul A. Elsner Library @ Mesa Community College”. cqpress.com.ezp.mesacc.edu. N.p., 2017. Web. 19 Jan. 2017.
- Elsner, Paul. “Off-Campus Eresource Access – Paul A. Elsner Library @ Mesa Community College”. cqpress.com.ezp.mesacc.edu. N.p., 2017. Web. 19 Jan. 2017.
- eResource, Off-course. “Off-Campus Eresource Access – Paul A. Elsner Library @ Mesa Community College”. cqpress.com.ezp.mesacc.edu. N.p., 2017. Web. 19 Jan. 2017.
- Gonchar, Michael. “Rethinking Globalization | Investigating The Benefits And Drawbacks Of Global Trade”. com. N.p., 2017. Web. 19 Jan. 2017.
- Paul, A. “Off-Campus Eresource Access – Paul A. Elsner Library @ Mesa Community College”. cqpress.com.ezp.mesacc.edu. N.p., 2017. Web. 19 Jan. 2017.