Globalization And The World Economy Essay

869 Words Dec 13th, 2016 4 Pages
Man-Ling, Bai
HISB110B
Dr. Kate Burlingham
Dec 16, 2016
Globalization and the World Economy Economy globalization was initiated in the early centuries as a way of integrating the world of economists, business and political activities which were focused on coar associated protection (Pollard et al, p. 764). This resulted from the idea of declining international economic integration. This gave birth to several international institutions that were supposed to oversee international trade by removing the barriers to trade. It is thus a process that aimed to be beneficial to all people within a country and in the whole world. However, globalization is nowadays involving many other activities which are multivariate in approach. It involves economics, social and political dimensions. Globalization is therefore having various aspects which are affecting the world in different ways. Such aspects include looking for the markets for the products and access to a range of foreign products which are required for their productions. Since the inauguration of globalization, the industrialist system has recorded an unbelievable number of achievements. The industrial revolution has fetched a new standard of prosperity, shape and comfort to the people of the world. There are so many factors which are thought to affect globalization both in the market and production process. There has been an advancement made by large segments of the world population in this age of globalization.…

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