Explain what is meant by the term globalisation. Identify and analyse the key drivers of the process of globalisation over the last twenty years. During the mid 1990’s the International Monetary Fund has defined globalisation as: ‘The growing interdependence of countries world-wide through the increasing volume and variety of cross-border transactions in goods and services and of international capital flows‚ and also through the more rapid and widespread diffusion of technology’ (Turner
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GLOBALISATION‚ FOR OR AGAINST? Globalisation is the main reason that we are all linked to the rest of the world. To argue for or against it‚ we first have to take the definition of globalisation. It means the way jobs; fashion‚ services‚ goods and information are flowing more easily around the globe. In my personal opinion‚ I am against globalisation. Globalisation has many drawbacks‚ which can be organised into economic‚ social and environmental fields. The main sources of globalisation are TNC’S
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a compelling inclination for the systematic development in the modern world today as a result of the problems it poses to the states in the form of challenges. This essay looks at the definition of globalisation‚ the concept of the process of globalization‚ and how it affects the Nigerian economy. THE CONCEPT OF GLOBALISATION Many theories have been put forward as to the explanation of globalization some of these are positive while some are negative‚ but all of them have a general term used in the definition
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Conceptualising Globalisation Globalisation is generally recognised as a long contemporary process driven by the rapid development of information technology and other forces to link and expend human activities‚ to construct the power of state and economic organisations through the elimination of space and the generation of time (Held‚ McGrew‚ Goldblatt and Perraton‚ 1999‚ p.13‚ Orga‚ 2012‚ p. 154-158‚ Waters‚ 2001‚ p. 1-5‚ 15‚ ). This growing interconnectedness has made both positive and
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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
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The signs of Globalisation Although globalisation has linked almost every human and places in today’s world‚ the trend has spread unequally. Globalisation has many positive‚ innovative and dynamic aspects‚ all related to the increased market access‚ increased access to capital‚ and increased access to technology and information which have led to greater income and employment opportunities. On the other hand‚ globalisation also emerge some negative result in regard to increased ecological degradation
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GLOBALISATION AND LIFE INSURANCE Dr. H. Sadhak Director‚ Management Development Center Life Insurance Corporation of India A. Globalisation & Liberalisation Globalisation‚ according to Penguin Dictionary of Economics‚ “Stresses the geographical dispersion of industrial and service activities (for example research and development‚ sourcing of inputs‚ production‚ distribution) and the cross boarder networking of companies (for example through joint ventures and the sharing of assets”. According
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The drivers of globalisation are those pressures or changes that have impelled both businesses and nations to adopt this approach. There are four different drivers: 1. Cost drivers These seek out an advantage to a business from the possible lowering of the cost of the service or production‚ and would include: gaining economies of scale from increasing the size of the business operation; the development and growth of technological innovation; lower labour and other resource costs in developing
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GLOBALISATION – The world today has been described as a ‘global village’‚ this stems from Marshall Mc Luhan’s concept that ‘the globe has been contracted into a village by electric technology and the instantaneous movement of information from every quarter to every point at the same time’. Mc Luhan has only described one aspect of how the world has become a global village. A closer examination of globalisation will indicate that indeed the barriers of space‚ time and borders which once existed
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state have played a part in moulding Ireland’s employment relations model in recent decades and whether or not I favour the ‘globalists’ or ‘sceptics’ view on just how great there influence has been . Firstly I need to establish what globalisation is. Globalisation connotes the stretching and intensification of social‚ economic and political relations across continents (Held et all‚ 1999). Capital is the first actor which I am going to look at. In the early 1950s Ireland was a closed economy.
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