The Outstanding Benefits Of Political And Economic Globalization
Paknoosh Izadi
Professor Wayne Petrozzi
Politics of Human Needs 106-011
23 October 2014
Examining the Benefits of Political and Economic Globalization The idea of globalization became prevalent throughout the latter half of the 14th century. Europe and Asia had developed a vital and lucrative relationship with each other in which they became interdependent upon each other. Europe would export metals and Asia in return would export spices, tea, coffee, perfumes, drugs, and sugar (Williamson and O ' Rourke). Fast forward to the 19th and 20th century, this relationship has remained intact and has expanded its connections to every other continent in the world creating a global community. Globalization has become an irreversible trend. Countries now have the ability to increase its profits by expanding its market in every corner of the world. It is globalization that has turned once small technology companies like Apple into a behemoth. Examining from a political angle, Globalization has changed the view of diplomacy. Furthermore, it has greatly improved how the international community interacts to solve problems of a large scale. More importantly, it has enabled a platform in which nations can address to the world issues facing them Globalization has transformed today into collaboration among nations around the world to help each other grow. In terms of economics, this means introducing trade agreements between nations to help build profits off each other. In return, both parties strengthen their economy. In terms of politics, globalization means promoting stability between nations and within nations as well. By examining the rapid changes in the political and economic landscape, it is clear that globalization and its rhetoric are pushing the world to economic and political prosperity. The economic growth and throughout many countries today are the result of globalizing markets and trade. In a report by the Federal Reserve Bank of Chicago, it explicit states that
Professor Wayne Petrozzi
Politics of Human Needs 106-011
23 October 2014
Examining the Benefits of Political and Economic Globalization The idea of globalization became prevalent throughout the latter half of the 14th century. Europe and Asia had developed a vital and lucrative relationship with each other in which they became interdependent upon each other. Europe would export metals and Asia in return would export spices, tea, coffee, perfumes, drugs, and sugar (Williamson and O ' Rourke). Fast forward to the 19th and 20th century, this relationship has remained intact and has expanded its connections to every other continent in the world creating a global community. Globalization has become an irreversible trend. Countries now have the ability to increase its profits by expanding its market in every corner of the world. It is globalization that has turned once small technology companies like Apple into a behemoth. Examining from a political angle, Globalization has changed the view of diplomacy. Furthermore, it has greatly improved how the international community interacts to solve problems of a large scale. More importantly, it has enabled a platform in which nations can address to the world issues facing them Globalization has transformed today into collaboration among nations around the world to help each other grow. In terms of economics, this means introducing trade agreements between nations to help build profits off each other. In return, both parties strengthen their economy. In terms of politics, globalization means promoting stability between nations and within nations as well. By examining the rapid changes in the political and economic landscape, it is clear that globalization and its rhetoric are pushing the world to economic and political prosperity. The economic growth and throughout many countries today are the result of globalizing markets and trade. In a report by the Federal Reserve Bank of Chicago, it explicit states that
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