goblisation

IS

GLOBALISATION REALLY
NECESSARY???

Hello friends. At first let me tell you what globalisation is?
Liberalised economic policies lead to globalisation, which is a combination of integrity in technological, socio-cultural, political and economical components. It facilitated the flow of human capital, financial capital along with cultural blend by erasing the cultural and geographical barriers through channelized transportation and improvised communication facilities. Globalization is not only important but it is the need of time especially for developing countries such as India.
It can be also called asinterplay between economies, cultures, technology of macro social forces. Globalization helps in creating job opportunities thus helps in employability rate apprehending the standard of living.

Features of Globalisation:
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The major economic feature of globalization is the dominance of the Transnational Corporation, and the international division of labour in which the world economy can be organized as a global assembly line.

Features of Globalisation:

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It means free access to the markets in the world without any physical (quota) or fiscal (tariff) or any other governments) restriction, Trade barriers are removed
Globalisation helps global units to have a common pool of resources, credit information, money, trde name, patents etc and bring various adavanges.

Features of Globalisation:
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Globalisation has opened up new markets where any country and business organisation can play.
The buniess organistion can become gobal company when they operate globally.

Causes Of Globalisation:
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The companies manufacturing on a large scale find domestic market small and insufficient and need to expand it.
Companies can reduce risk by diversifying portfolios across different countries.
Companies wanted to increase their revenues and profits. Unfavourable business environment in the home country.

Benefits Of Globalisation:
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Economies of countries that engage well with the international economy have consistently grown much faster than those countries that try to protect themselves. Benefits Of Globalisation:
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Countries which have had faster economic growth have then been able to improve living standards and reduce poverty. India has cut its poverty rate in half in the past two decades.

Benefits Of Globalisation:
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Improved access to health care and clean water which has increased life expectancy.
Increased global income and reduced investment barriers have led to an increase in foreign direct investment which has accelerated growth in many countries. In 1975, total foreign direct investment amounted to US$23 billion while in 2003 it totalled US$575 billion

Benefits Of Globalisation:
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Have enabled international political and economic tensions to be resolved
A growth in liberal democracies around the world.
The voluntary adoption by global companies of workplace standards for their internationalised production facilities in developing countries
International migration has led to greater recognition of diversity and respect for cultural identities.

Disadavanges of Globalisation:
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The increasing interdependence of countries in a globalised world makes them more vulnerable to economic problems. Disadavanges of Globalisation:
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Small and medium size units suffer because they cannot face the competition from MNCs.
Increased trade and travel have facilitated the spread of human, animal and plant diseases, like HIV/AIDS, swine flu and bird flu, across borders.
Indigenous and national culture and languages can be eroded by the modern globalised culture
Giving away national sovereignty

Disadavanges of Globalisation:
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Trade liberalisation and technological improvements change the economy of a country, destroying traditional agricultural communities and allowing cheap imports of manufactured goods. This can lead to unemployment.
Globalised competition can force a 'race to the bottom' in wage rates and labour standards. It can also foster a
'brain drain' of skilled workers.
The major economic powers have a major influence in the institutions of globalisation, like the WTO, and this canwork against the interests of the developing countries. ●

The environment has been harmed as agricultural, forest, mining and fishing industries exploit inadequate environmental codes and corrupt behaviour in developing countries As an example, China joined WTO in dec 2001, In
2002, its coal use began rising rapidly

Globalization increases world carbon dioxide emissions. Disadavanges of Globalisation:
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The decline of the State as a protector of individuals and groups and the rise of virtual states depending on investment and production abroad, not to mention the fact that due to the size of the the top forty MNCs having GDPs bigger than a country like Turkey for example, this creates an impression that governments have surrendered their power to capitalism

As every other aspect in the life, globalisation has also its pros and cons which depend on the shade of its perspective. Pros have to be implemented while ejecting the cons and lay a ladder for the economic growth and global well being.

BY

INVINCIBLES
DHATHRI