GlobalEssay Preview: GlobalReport this essayWhat is globalization, and what are some of the traditional international trade theories that support the concept of globalization?According to Hill, 2009 globalization is a fundamental shift in the economy. Mercantilism is one of the traditional international trade theories that support the concept of globalization, it advocates that countries should encourage exports and discourage imports. Another, trade theory is Adam Smiths theory of absolute advantage, it was the first to explain why unrestricted free trade is beneficial to a country. In addition, free trade refers to the government not controlling what citizens can buy, produce or sell by influence of quotas or duties. Although there are positive effects of globalization a large portion of the population in many countries believe that globalization has detrimental effects on living standards and the environment
List the major drivers of globalization and give three examples of each.There are two underlying major drivers of globalization. One of the major drivers is the declinein barriers to the free flow of goods, services, and capital. Trade barriers have been reduced and are shifting from closed end economy to open end economy. The second factor s technological change, particularly the dramatic developments in recent years in communication, information processing, and
transportation technologies. The technological change allows a greater speed of processing information. For example being able to communicate via internet across the country.
Explain at least four effects of globalization that impact your community and your organization.One of the effects of globalization that may impact communities and organizations is employment opportunities or outsourcing. With the increase of jobs going global, there is always a possibility that jobs may be relocated to other countries. Another effect is competition, with the way the world is competing, many organizations are looking for innovative ways to improve on the quality and standards of their service and goods. In addition, communication or lack of communication is two additional examples. Email and telephone communication has taken over the lack of face-to-face business communication and interaction.
UPDATED: “New York: As a result, global companies are making less money in China. Businesses are opening in New York and a lot of those businesses are part of the new economy that comes in, rather than staying in the old ones.” – Peter G.
Updated to add “the world may not be good for you. We may not be good for you.” – Peter G
Updated to add: “If we go back in time, you’ll find some of those businesses are gone. New York is going all the way back in time.” __________________________________
Updated to add: “The best things about globalization are in my opinion, many are great. And they don’t mean that globalization will cause you to start being a disaster, but it does. But it will. And that happens. So what I’m doing is, I’m trying to help the world adapt to it.” – Dr. G
Updated to include comments of others.
*The Global Entry, Contractor, or Export Agreements Agreements (EECAs) are not created by government agencies. They are negotiated by the governments through an agreement of the EEA Agencies. The EEA Agencies include trade and investment companies, state and territorial governments, or corporate entities. These EEA Agencies include a variety of trade and investment partners.
A. The Global Entry, Contractor, or Export Agreements are not created by government agencies
*In 1998, almost 2,000 businesses signed the ECE Agreement – the largest such free-trade agreement in the history of the European Union. ECE and the other free-trade agreements negotiated by more than 120 countries in the 1920s set a goal for global trade: “To become the world’s leading economic partner by 2020.”
*In 2006, the Trade Adjustment Assistance Program (TAA) allowed members of the European Economic Area to add the EEA Agreement to their trade agreements. Under the program, the EECAs were added together to create the “Pacific Partnership.” This deal would include a global agreement on environmental protection as well as labor protections. The EEA agreement took effect in 2010.
– New New York: Last year, a letter from a senior US official to a Russian businessman to the head of the International Monetary Fund was leaked to the press. The banker, David Cameron, called the document “deeply damaging. In fact, I must admit that I was quite at ease… I was shocked and amazed by the extent to which such highly sensitive and confidential information was leaked to an American official…
… and then the IMF was very impressed to hear all this and so they sent letters to all of our leaders to ask whether we could participate in the agreement… and I said yes to every one except my friend Julian Assange and to his friend and to his colleague on the EU’s executive council,” said Julian Assange. ”