Who doesn t know Louis Vuitton
CITA BUANA JAKARTA COLLEGE
“ . . . bringing cultures together in bilingual harmony . . .”
College : Cita Buana College
Course Title : Economics
Year Level : 12 – Semester 1
Unit Title : Globalization
Student : Francisca Putri Purwanti
Assessment Product : Essay
Assessment Topic : Globalization
Who doesn’t know Louis Vuitton, Gucci, Prada, and Chanel? Those are some of popular fashion brands. Have you ever wondered why those brands become so popular and how those brands get in our country? The answer is globalization. Globalization has been the most powerful factor that shaped the global economy. Globalization is the process of development in politics, economy and culture all around the world. National economies becomes increasingly integrated through globalization. Although globalization brings positive effect on economy, it also affects the world in a negative way.
To start with, globalization has improved interdependence of national economies. Globalization involved free trade, greater competition, and increased investment. Globalization allows companies to enter wider markets and consumers have more options of goods and services. Free trade is a trade between countries without governmental intervention. Globalization allows greater trade and competition in the market that leads to lower prices, higher economic growth and it also increases level of investment. Since companies open wider markets, they need more people to work for them. Globalization enables a larger job opportunity that leads to decreasing of unemployment. Globalization allows us to move from one to another country. Free movement of labor gives advantages to both sender and recipient countries. If a nation experiences high unemployment, there are large opportunities to look for jobs somewhere else. Globalization increases Gross Domestic Product (GDP) of a country. GDP is the market value of all final goods and services
“ . . . bringing cultures together in bilingual harmony . . .”
College : Cita Buana College
Course Title : Economics
Year Level : 12 – Semester 1
Unit Title : Globalization
Student : Francisca Putri Purwanti
Assessment Product : Essay
Assessment Topic : Globalization
Who doesn’t know Louis Vuitton, Gucci, Prada, and Chanel? Those are some of popular fashion brands. Have you ever wondered why those brands become so popular and how those brands get in our country? The answer is globalization. Globalization has been the most powerful factor that shaped the global economy. Globalization is the process of development in politics, economy and culture all around the world. National economies becomes increasingly integrated through globalization. Although globalization brings positive effect on economy, it also affects the world in a negative way.
To start with, globalization has improved interdependence of national economies. Globalization involved free trade, greater competition, and increased investment. Globalization allows companies to enter wider markets and consumers have more options of goods and services. Free trade is a trade between countries without governmental intervention. Globalization allows greater trade and competition in the market that leads to lower prices, higher economic growth and it also increases level of investment. Since companies open wider markets, they need more people to work for them. Globalization enables a larger job opportunity that leads to decreasing of unemployment. Globalization allows us to move from one to another country. Free movement of labor gives advantages to both sender and recipient countries. If a nation experiences high unemployment, there are large opportunities to look for jobs somewhere else. Globalization increases Gross Domestic Product (GDP) of a country. GDP is the market value of all final goods and services
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