The Three Advancements of Globalization - 1058 Words

Globalization and its Impact Globalization by definition means the tendency of business, technologies or philosophies to spread around the world, or the process of making this happened. Globalization depends on three keys of advancement, the role of human migration, international trade and rapid movements of capital. Globalization has many pros but yet also many cons that can have a deciding factor in an economy. Many people think globalization still favors the rich and it’s a detriment to countries who emerging in the world and does not have a stable or great economy. According to Bloomberg Business Week Globalization has said to have hit its peak in the year 2007, which ties into the unfolding of the Global crisis. Some Critics and†¦show more content†¦An article written in the Bloomberg business week talks about Globalization hit its peak in 2007. The article is states that globalization is done and emerging economies are catching up to the developed economies. T he Article reports that financial flows went into a steep decline when the global financial crisis hit in 2008 and still haven’t recovered, according to the new report by the McKinsey Global Institute. (Globalizations Peak Year Was 2007). The emerged markets are finding However an Article on the website Bloomberg view talks about how Globalization still favors the rich rather than the poor or an equal spread. In a Study McKinsey Co. management consultancy which studies global flows between countries in 2012 global flows hit 26 trillion which is 36 percent of global domestic product (Globalization Still Favors the Rich). The article also states that only the top ten developed countries received most of the benefits. However the article does say that since the 1990’s that emerging economies account for more of the global shares than ever. Nevertheless the quality and trend of these flows, matters more than their size and these are, for now, in favor of the developed world. (Globalization Still Favors the Rich). The developing countries are having trouble with financing because most of their money is going to the richer countries. Some number would be that in finance, the emerging economies account for 37 percent of global inflows but 38 percent ofShow MoreRelatedThe Second Key Driver Manipulating The Spread Of Globalization894 Words   |  4 PagesThe second key driver manipulating the spread of globalization is technological change. The reductions of international trade and investment barriers made globalization of markets and globalization of production a theoretical possibility; technological change made it a visible reality (Hill, Cronk, Wickramasekera, 2014). Over the years, there has been major technological development. 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While economic globalization has had many benefits and positiveRead MoreThe Impact Of Globalization On Business Activity Communications And Movements Of Individuals Over The National, Political And Geographic Boundaries1401 Words   |  6 Pagesto Hill, there are two main facets of globalization, includes globalization of markets and production (Hill, Cronk, Wickramasekera, 2014). The historically different and distinctive national markets are integrating into a single huge global marketplace in which the perceptions and preferences of customers in different countries are beginning to unite as a sing le global standard; examples are McDonald’s hamburger (US), IKEA furniture (Sweden). The globalization of production allow firms to locate productsRead MoreThe End Is Near ! Or Is It? Essay1473 Words   |  6 Pagesvision while also suggesting there are larger issues that attribute to this apocalyptic world seen in the film. 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