The Impact Of Globalization And The World Economy

869 Words 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,
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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. There is good evidence that globalization has led to increased production and also at the same time increased the markets for these goods and services. Let us see some of the factors which are said to have accelerated the production and market globalization (Kawai, 2002, p. 167-204). The modern technologies are one of the factors which are thought to have accelerated production and the global market (Pollard et al, p. 775). In the last two decades of the 20th century, the world has experienced a fundamental change in the perception of the world and one of the reaching transformations has been the economic structural changes on the global scale. The backbone of all these changes is seen to lie on the technological information revolution. The innovation of the new technologies gas made many countries to grow and a good example in this case is e-marketing. E-marketing promotes more personal contact between the …show more content…
The internet can be used to advertise the various goods and services which are produced by these companies. As a result, you will find that most of the consumers will be in a position to know the new products which have been introduced in the market hence leading to increased production. As a result, you will find that in the global market, most of the consumers will be in a position to access these products hence leading to the increased production of these goods and services. Consumers are also in a position to shop online. This is one of the modern technologies associated with globalization so you find that with online shopping, then consumers will be in a position to access these goods without actually travelling to the areas which these goods have been produced. Therefore, you will find that with the introduction of the new technologies, the production of these goods have been increased in the global market hence leading to a diversified growth in these

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