Globalization Notes Pdf Download -Advantages And Disadvantages
Globalization Notes Pdf Download -Advantages And Disadvantages . – In simplest terms, Globalization refers to global interconnection in terms of trade, ideas, culture, etc. In a Globalized world, social and economic activities transcend the borders and regions.
The government in the contemporary Globalized world is moving from the idea of a welfare state to minimalist state.
A large number of internal policy decisions are impacted and influenced by emergence of powerful Organizations such as WTO, IMF etc
Rapid exchange of ideas, development in communication technology has enabled the government to rule better.
From a business point of view, globalization refers to global interconnections in terms of trade and exchange of ideas, equipment, manpower, technology, etc.
A globalized economy allows companies from around the world the opportunity to participate (in terms of manufacturing, trading, marketing, etc.), unlike a closed economy, which excludes participation for many.
This opening up of markets is a win-win situation for all the constituent parties. While the companies get access to markets, people get access to more choices.
It also allows resource-rich (and service-rich) countries to export their products to resource-deficient (and service-deficient) countries.
This has resulted in high growth rates in a number of countries, such as India.
Globalization has also resulted in environmental damage and emergence of organized crime and violence, as undesirable consequences.