A large reason why people from all around the world are able to gather in large cities in developed nations is due to Globalization. Furthermore, we wouldn’t see as much cultural diversification as we do today without international trade. Without globalization, it would be very difficult for refugees to flee war-torn countries like modern day Syria and Yemen.
Today, we as a global society, benefit from Globalization not only in economic means, but in social, cultural, political, and environmental circumstances. In addition to economic trade, the Silk Road was a route for cultural trade among the civilizations along its network.
Diseases, most notably plague, also spread along the Silk Routes. Though silk was certainly the major trade item exported from China, many other goods were traded, and religions, syncretic philosophies, and various technologies. Trade on the Silk Road played a significant role in the development of South-Asian countries. When assessing the importance of Globalization, it’s good to look back to where it originated Extent of the Silk Road and Spice trade routes blocked by the Ottoman Empire in 1453 spurred exploration and saw rise to international trade. This not only benefits the foreign companies (in this case, American companies like Apple) but also helps the countries being invested in by increasing their exports, creating jobs, closing the technology gap, and overall, improving quality of life. The importance of this economic phenomenon can’t be stressed enough arguably the most significant contributor to increasing a country’s GDP (standard of living) is foreign direct investment – that is, foreign companies who invest in your country.Ī modern example of this is American company’s outsourcing labour to Mexico and China because labour costs are cheaper in these areas. In other words, when countries that were hitherto closed to trade and foreign investment open up their economies and go global, the result is an increasing interconnectedness and integration of the economies of the world.
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Thus, despite that globalization increases information processing requirements, international experience enhances information processing capacity, thus allowing a firm to better cope with and grow in uncertain markets.In short, Globalization is the free movement of goods, services and people across the world in a seamless and integrated manner. International experience affects corporate governance and accountability in several ways. In politics scope, globalization has had many negative and positive consequences such as increase power and liberty of nations, groups and nongovernmental parties, expand of new political culture, weaken and washy of the role and hegemony of states in illegitimate controlling of nations, change and redefinition of … How does globalization affect governance? What is the impact of globalization on politics? What are the causes and effects of poverty and inequality in terms of globalization?.How has globalization contributed to poverty and inequality in developing countries?.