Globalization and its impacts on the world economics development by akram chUniversity Of Gujrat
Globalization is a process of global economic, political and cultural integration. It has made the world become a small village; the borders have been broken down between countries. ''The history of globalization goes back to the second half of the twentieth century, the development of transport and communication technology led to situation where national borders appeared to be too limiting for economic activity'' (Economic Globalization in Developing Countries, 2002). Globalization is playing an increasingly important role in the developing countries. It can be seen that, globalization has certain advantages such as economic processes, technological developments, political influences, health systems, social and natural environment factors. It has a lot of benefit on our daily life. Globalization has created a new opportunities for developing countries. Such as, technology transfer hold out promise, greater opportunities to access developed countries markets, growth and improved productivity and living standards. However, it is not true that all effects of this phenomenon are positive. Because, globalization has also brought up new challenges such as, environmental deteriorations, instability in commercial and financial markets, increase inequity across and within nations.
This report is presented based on study purpose and mainly focused to provide an evaluation of the book, “The McDonaldization of Society – Revised new century Edition” written by George Ritzer in year 2003. In this article, firstly an introduction and a brief summary of the book secondly discussed the impact of McDonaldization.
Globalization and its impacts on the world economics development by akram chUniversity Of Gujrat
Globalization is a process of global economic, political and cultural integration. It has made the world become a small village; the borders have been broken down between countries. ''The history of globalization goes back to the second half of the twentieth century, the development of transport and communication technology led to situation where national borders appeared to be too limiting for economic activity'' (Economic Globalization in Developing Countries, 2002). Globalization is playing an increasingly important role in the developing countries. It can be seen that, globalization has certain advantages such as economic processes, technological developments, political influences, health systems, social and natural environment factors. It has a lot of benefit on our daily life. Globalization has created a new opportunities for developing countries. Such as, technology transfer hold out promise, greater opportunities to access developed countries markets, growth and improved productivity and living standards. However, it is not true that all effects of this phenomenon are positive. Because, globalization has also brought up new challenges such as, environmental deteriorations, instability in commercial and financial markets, increase inequity across and within nations.
This report is presented based on study purpose and mainly focused to provide an evaluation of the book, “The McDonaldization of Society – Revised new century Edition” written by George Ritzer in year 2003. In this article, firstly an introduction and a brief summary of the book secondly discussed the impact of McDonaldization.
BOOK DISCUSSION : NEW CONFESSIONS OF AN ECONOMIC HITMANRiri Satria
My presentation on book review discussion "The New Confessions of An Economic Hitman", organized by Indonesian Economics Scholars Assocation (Ikatan Sarjana Ekonomi Indonesia), Jakarta chapter (20/05/2016)
The slides present the two of Gorbachev's well-known economic philosophies - Glasnost and Perestroika. It starts with the background on Gorbachev's life and proceeds with the discussion on how the Our Lady of Fatima is related with the Russian history and Gorbachev's beliefs.
The United Kingdom (UK) intends to withdraw from the European Union (EU), a process commonly known as BREXIT, as a result of June 2016 referendum in which 52% voted to leave EU. The term “BREXIT” is the short form of the words “BRITISH” and “EXIT”.
Group work in International Trade (March 2015):
PESTLE model should help us to evaluate the country Brazil in terms of its attractiveness as a trade partner country. My part: "Future Development" of Brazil (Slide p. 35)
In course of the presentation, you get familiar with Brazil's politics, its economical situation, social environment, legal issues and shortly with its external environment. The research was conducted in March 2015.
It is a presentation of Bangladesh Studies,so here you will learn about how to growth up Bangladesh Economics from 1971.
Hopefully you will like this.
Thank you.
BOOK DISCUSSION : NEW CONFESSIONS OF AN ECONOMIC HITMANRiri Satria
My presentation on book review discussion "The New Confessions of An Economic Hitman", organized by Indonesian Economics Scholars Assocation (Ikatan Sarjana Ekonomi Indonesia), Jakarta chapter (20/05/2016)
The slides present the two of Gorbachev's well-known economic philosophies - Glasnost and Perestroika. It starts with the background on Gorbachev's life and proceeds with the discussion on how the Our Lady of Fatima is related with the Russian history and Gorbachev's beliefs.
The United Kingdom (UK) intends to withdraw from the European Union (EU), a process commonly known as BREXIT, as a result of June 2016 referendum in which 52% voted to leave EU. The term “BREXIT” is the short form of the words “BRITISH” and “EXIT”.
Group work in International Trade (March 2015):
PESTLE model should help us to evaluate the country Brazil in terms of its attractiveness as a trade partner country. My part: "Future Development" of Brazil (Slide p. 35)
In course of the presentation, you get familiar with Brazil's politics, its economical situation, social environment, legal issues and shortly with its external environment. The research was conducted in March 2015.
It is a presentation of Bangladesh Studies,so here you will learn about how to growth up Bangladesh Economics from 1971.
Hopefully you will like this.
Thank you.
- The worldwide movement toward economic, financial, trade, and communications integration.
Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately
http://pwc.to/11CB1Xq
Dans son étude « Working Capital Survey 2013 », PwC montre que la performance BFR (Besoin en Fonds de Roulement, soit la trésorerie mobilisée par l’activité) des entreprises mondiales s'est dégradée de 2 % par rapport à l'année dernière. Seule exception, les sociétés européennes ont amélioré leur situation, démontrant une corrélation entre PIB et niveaux de BFR.
Lecture slides in International Economics from a course at the University of the West of England, Bristol. Discusses recent and ongoing transformations of the world economy, including Ohmae's concept of the "Invisible Continent". Download available on the TRUE wiki for International Economics: http://economicsnetwork.ac.uk/international/lecturenotes
7. Trade
to
GDP
ra.os
are
rising
for
most
countries
Expansion
of
Financial
Capital
Flows
between
countries
Foreign
Direct
Investment
and
Cross
Border
M&A
Rise
of
truly
global
brands
–
inc
from
emerging
countries
Deeper
specializa.on
of
labour
–
components
from
many
na.ons
Global
supply
chains
&
new
trade
and
investment
routes
15. Nissan,
Sunderland
Cummins
Power
Genera.on,
Ramsgate
AkzoNobel,
Ashington
Siemens,
Hull
Foreign
direct
investment
into
the
UK
16. 1. Encourages
producers
and
consumers
to
reap
benefits
from
deeper
division
of
labour
and
economies
of
scale
2. Compe..ve
markets
reduce
monopoly
profits
and
incen.vize
businesses
to
seek
cost-‐reducing
innova(ons
3. Enhanced
growth
has
led
to
higher
per
capita
incomes
–
and
helped
many
of
poorest
countries
to
achieve
higher
growth
and
reduce
extreme
poverty
4. Advantages
from
the
freer
movement
of
labour
5. Increased
awareness
among
consumers
of
challenges
from
climate
change
and
wealth/income
inequality
Benefits
of
Globalisa(on
17. Many
of
the
effects
of
globalisa.on
are
disrup.ve
to
established
industries
and
organisa.ons
18. Poverty
Reduc(on
–
A
Major
Benefit
of
Globalisa(on
in
the
Long
Run
The
percentage
of
people
living
in
extreme
poverty
has
fallen
across
all
regions
but
progress
in
Sub-‐Saharan
Africa
has
(un.l
recently)
been
slower
MENA:
Middle
East
and
North
Africa
19.
20.
21.
22. 1. Growing
inequality
leading
to
poli.cal
&
social
tensions
2. Threats
to
the
global
commons
e.g.
irreversible
damage
to
ecosystems,
land
degrada.on,
deforesta.on,
water
scarcity
3. Macroeconomic
fragility
–
external
economic
and
financial
shocks
in
region
can
rapidly
spread
to
other
centres
….
Systemic
risk
– Financial
cycles
in
world
economy
are
more
vola.le
than
real
economic
cycles
–
but
strong
inter-‐connec.ons
4. Trade
imbalances
leading
to
calls
for
protec.onism
and
a
move
towards
countries
using
managed
exchange
rates
5. Higher
structural
unemployment
in
countries
where
produc.on
has
shi^ed
to
lower
labour
cost
na.ons
6. Less
cultural
diversity
as
global
brands
dominate
Disadvantages
of
Globalisa(on
23.
24.
25.
26. Imbalances
between
countries
Imbalances
within
countries
Trade
imbalances
i.e.
current
account
surpluses
and
deficits
Rising
income
and
wealth
inequali.es
Unbalanced
flows
of
foreign
direct
investment
between
countries
Large
structural
differences
in
unemployment
rates
Imbalances
in
access
to
global
markets,
ideas,
health
&
educa.on
Imbalances
between
rural
and
urban
areas
/
different
regions
Globalisa(on
and
Economic
Imbalances
27.
28. Imbalances
between
countries
Imbalances
within
countries
Trade
imbalances
i.e.
current
account
surpluses
and
deficits
Rising
income
and
wealth
inequali.es
within
countries
Unbalanced
flows
of
foreign
direct
investment
between
countries
Large
differences
in
structural
unemployment
rates
Imbalances
in
access
to
global
markets,
ideas,
health
&
educa.on
Imbalances
between
rural
and
urban
areas
/
different
regions
Key
Argument:
Globalisa(on
and
Imbalances
Globalisa(on
and
Economic
Imbalances
30. Background
on
United
Kingdom:
(Pop
64.1m)
(Data)
Recent
Macroeconomic
Data
Latest
annualised
GDP
Growth
(%)
2.6%
GDP
per
capita
(US
$,
PPP
standard)
$35,013
Infla.on
rate
(%)
0.5%
Unemployment
rate
(%
of
labour
force)
5.8%
Fiscal
balance
(%
of
GDP)
-‐5.8%
Government
debt
(%
of
GDP)
91%
Yield
on
10-‐Yr
Govt
Bonds
(%)
1.5%
Investment
(%
of
GDP)
in
2012
15%
Background
Informa(on
Currency
unit
£
Exchange
rate
system
float
Current
policy
interest
rate
0.5%
Trade
surplus
or
deficit?
Def
Current
account
balance
(%
of
GDP)
-‐4.4%
Main
corporate
tax
rate
(per
cent)
21%
Global
compe..veness
ranking
for
2014
9th
Economic
Freedom
Index
Ranking
14th
Corrup.on
Percep.on
Ranking
14th
Other
Indicators
Latest
HDI
ranking
14
%
of
popula.on
living
below
their
na.onal
poverty
line
n/a
Life
Expectancy
(years)
81.5
Rank
for
capacity
to
airact
skilled
talent
5th
Rank
for
Innova.on
and
sophis.ca.on
8th
Gini
coefficient
(Latest
published
es.mate)
36.5
31. Financial
and
Real
Economic
Cycles
Does
Britain
benefit
from
Globalisa(on?
• Benefits
from
trade
crea(on
– Compara.ve
advantage
and
economic
efficiency
– Impor.ng
cheaper
products
/
technology
– Exports
as
a
source
of
growth
/
economies
of
scale
• Increased
contestability
of
domes(c
markets
• Freer
flow
of
labour
–
the
global
baile
for
talent
– Skilled
immigra.on
/
inflows
of
human
capital
– Unemployment
has
been
falling
–
now
below
6%
• Investment
opportuni(es
for
Bri.sh
businesses
– Inward
FDI
into
the
UK
(a
source
of
jobs
and
capital)
– Overseas
investment
by
UK
businesses
(adds
to
GNI)
32. Financial
and
Real
Economic
Cycles
Costs
of
Globalisa(on
for
Britain
• Higher
structural
unemployment
and
more
low
paid
jobs
– E.g.
loss
of
manufacturing
output
and
jobs
to
lower
labour
cost
centres
– Hollowing-‐Out:
Rise
of
lower-‐skilled
jobs
offering
below
average
pay
• Increased
exposure
to
external
economic
shocks
– Increased
inter-‐dependence
and
fragile
global
supply-‐chains
• Risks
of
widening
income
and
wealth
inequality
– Higher-‐skilled
jobs
get
a
dispropor.onate
reward
– Downward
dri^
of
real
incomes
in
millions
of
low
paid
jobs
• Environmental
concerns
from
rapid
global
growth
– Deforesta.on,
water
scarcity,
carbon
emissions
– Global
public
bads
e.g.
risks
of
pandemics
• Increased
economic
and
social
imbalances
– Regional
imbalances
in
wealth
and
employment
33. The
long-‐term
padern
of
jobs
growth
in
the
UK,
as
in
most
other
European
countries,
has
resembled
an
hourglass:
the
share
of
mid-‐skilled
jobs
such
as
secretaries
and
machine
operators
has
been
squeezed
by
technology
and
globalisa(on,
while
the
share
of
low-‐skilled
jobs
—
for
example,
shop
assistants
—
and
high-‐
skilled
jobs,
such
as
managers,
has
expanded.
(Source:
FT,
Jan
2015)
34. Get
help
from
fellow
students,
teachers
and
tutor2u
on
Twider:
@tutor2u_econ
