research on globalisation
Globalisation, Causes and Consequences:
The 21st century is the world of globalisation where people living in Australia have the Laptop made in China, Food produced in India and the dresses made in France. According to Oden (2001) globalisation has accelerated in the rapid pace in the last two decades. The new dynamic of the political, economic, financial, social and cultural forces of globalisation has been brought by the scientific and technical information revolution. It has also increase the cross border flows of tremendous volume of goods and services.
There are varying definition of globalisation by the economist and the financials people. According to Hartungi (2006), the economist perspective definition of globalisation is “As the reduction of transaction cost of trans-borders movements of capital and goods thus of factors of production and goods”. Furthermore, the globalisation process breakdown geographical borders between countries, government, the economy and communities. It creates the international financial market through openness of market, elimination of barriers in trade in goods and services. Similarly, the noble prize winner Amarty Sen defines globalisation as “The intensification of the process of interaction involving trade migration and dissemination of knowledge that has shaped the progress of the world over millennia” (Piasechki & Wolnicki, 2004).
Ukpere & Slabbert (2009), states the globalisation is the act of interaction and integration among the people, companies and government of different nations. It is waived by the international trade and investment and advanced information technology. Furthermore, globalisation has affects on the environment, culture, political system, economic development and growth, physical well being of the societies and personal life of the individual around the world. According to The International monetary Fund’s (2008) the main core elements of globalisation is to expand the world trade through the
The 21st century is the world of globalisation where people living in Australia have the Laptop made in China, Food produced in India and the dresses made in France. According to Oden (2001) globalisation has accelerated in the rapid pace in the last two decades. The new dynamic of the political, economic, financial, social and cultural forces of globalisation has been brought by the scientific and technical information revolution. It has also increase the cross border flows of tremendous volume of goods and services.
There are varying definition of globalisation by the economist and the financials people. According to Hartungi (2006), the economist perspective definition of globalisation is “As the reduction of transaction cost of trans-borders movements of capital and goods thus of factors of production and goods”. Furthermore, the globalisation process breakdown geographical borders between countries, government, the economy and communities. It creates the international financial market through openness of market, elimination of barriers in trade in goods and services. Similarly, the noble prize winner Amarty Sen defines globalisation as “The intensification of the process of interaction involving trade migration and dissemination of knowledge that has shaped the progress of the world over millennia” (Piasechki & Wolnicki, 2004).
Ukpere & Slabbert (2009), states the globalisation is the act of interaction and integration among the people, companies and government of different nations. It is waived by the international trade and investment and advanced information technology. Furthermore, globalisation has affects on the environment, culture, political system, economic development and growth, physical well being of the societies and personal life of the individual around the world. According to The International monetary Fund’s (2008) the main core elements of globalisation is to expand the world trade through the