How Globalization Effects France Essay

2367 Words Jan 4th, 2016 10 Pages
The Globe Grows Smaller The world we live in today is continually growing smaller and people are more connected with each other more than ever before. This is contributed to globalization; which for our purposes is defined as the increasing speed and ease that capital, services, goods, technologies, people, information, cultures, and ideas cross borders at. This paper will be analysing the effects of globalization on many aspects of France. Historically, France has opposed globalization and this disdain started gaining ground during the early 1990s as Europe was becoming integrated. The French feared globalization because they wanted to preserve their own rich culture, and because they saw globalization as another form of americanization …show more content…
Even though they may be cautious, France has undergone massive changes in the economy, society, and policy. These changes were not presented in a traditional open political debate but were done behind closed doors as to avoid resistance from the common man. The first component of France that will be dissected is trade and integration. Since the early 1980s France has moved towards market liberation. This was a result of European integration and globalization and deliberate efforts by policymakers. An example of this is the French government used to own large sectors of the economy to keep it in french hands but now has since allowed foreign companies to purchase large amounts or even a majority shares of formerly state owned companies (Gordon, 3). If we look back 15 to 20 years you can see that only 10 percent of French firms were owned by foreign companies, but now over 40 percent of the shares in the French stock market are owned by foreigners. France has had positive economic growth since 1993 and has been one of the best performing European economies for the past decade or so. And when we focus on exports plus imports as a percentage of their growth domestic product, we can see a huge jump from 1962 where it was only 24.9 percent to 1997 when it was 49.4 percent (Gordon, 4). Today many of France’s companies are industry

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