The globalization of markets
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Globalization has both benefits and drawbacks. It allows for increased trade and sharing of technologies and culture, but can also widen inequality gaps. It provides more opportunities through open markets and innovation, but can threaten local identities and result in job losses. Whether globalization is good or bad depends on how its opportunities and threats are managed.
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The globalization of markets
- 1. By Mohammed Abdelrahman Ghorab Supervision by : Prof. Dr. sc. agr. Erskin Blunck
- 2. What is Globalization? Introduction; The Story of Globalization from History How has the exchange of goods and services and technologies affected people? Why it happen? And its effect Causes of Globalization Music Vs. Cinema MNC and Global Corporates Failure of Standardization: Truth Has Many Faces Cracking the code of Western Markets Is it Good or Bad for us? You captured the best and the worst of globalized economy: Opportunities and threats?
- 3. “The poor complain, they always do, but that’s just idle chatter. Our economic/government system brings rewards to all rich, at least to all who matter.” “the best definition of globalization” Canadian development economist Gerald Karl Helleiner (1936- ) Referred to by Noam Chomsky
- 6. King Leopold II Between 1876 to 1914 the imperial power of Troops of the Eight nations alliance of 1900. Left to right: Britain, United States, Australian colonial, British India, Germany, France, Austria-Hungary, Russia, Italy, Japan
- 7. Different food from different cultures and places have been exposed to other cultures that is why we have so much variety of food choices , it was exchanged in the silk road
- 11. 1,330,188,500 Views Swedish Vs. Hollywood? 200 Million $ Vs. 220 M.$
- 12. Chasing after many little Ideas quickly Moving towards one clear big Ideas
- 16. Multicultural Accessibility and open markets Unlimited number of Ideas and innovation in a free market ideology. No borders and breaking barriers Common Language Interconnected world and interdependent with new Opp.& Chal. Increased World output Increased Consumer welfare Reduce the role and the responsibilities of the Gov. Peace Long-run benefits for global economies Decrease prices to minimal Interconnected economy with politics and culture Growth of NGS like Greenpeace power Imperialism Widening the gap between richer and poorer Domestic products are nearly dead! Loosing your identity and culture Monopolization of the market Inequalities Spread of economic shock Externalities Poverty & increase transmission of diseases and infections Lower environmental standards and pollution and unsustainable env. Job losses and loss of major local & domestic production and markets because of the greater competition More service sector which cause Dutch disease MacWorld western culture becoming a dominant cultural-political & economical force
Editor's Notes
- No one consult Indigenous people and they were forced to give up their land to harvest rubber for king Leopold II
- Spanish people got around on horses so this was introduced to North Americans and improved transportation.India were the ones who came up with cotton and manufacturing it, without this we wouldn’t have the cloths we wear right now!
- The information technology revolution which has made it very difficult for governments to control cross-border capital movements, even if they have political incentives to do so. Governments can still restrict the multinationalization of production, but they have increasingly chosen to liberalize because of the macroeconomic benefits (EOS) economy of scale.the three major components of international market integration: trade, multinational production, and international finance.
- 1- Improvement of transportation and logistics (one ton of coffee transport cost only 1% of the price)2- Containerization3- Improved Technology and telecommunication systems4- Growth of MNC 65,000 MNC (1990 was only 7000)5- Reduced tarrif barriers (WTO)6- Firms exploiting gains from economies of scale to gain increased specialization. This is an important feature of new trade theory.
- 7- Growth of Global Trading blocks which have reduced national barriers. (e.g. European Union, NAFTA, ASEAN)8-Growth of global media.9- Global Trade Cycle countries are increasingly interconnected10- Financial system increasingly global in nature, US affected all major banks in other countries who had bought financial derivatives from US banks and mortgage companies11- Improved mobility of capital (global interconnectedness of global financial markets)12- Increased mobility of labor
- MNC knows a lot about a great many countries and congenially adapts to supposed differences (accommodating mode to visible national differences) customized the product to suit every country (Shapes, forms, colors, technology) By contrast the Global C; knows everything about one great thing (about the absolute need to be competitive on a worldwide basis as well as national and seeks constantly to drive down prices by standardized market rather than many customized marketsRecently the trend is Think globally and act locally!
- Local domestic markets tried to standardize world practice by exporting domestic products and processes without accommodation or change and have failed miserably!Lower price, Automatized services than manual even if it fail to fulfill all their preferences.Clear example is : German consumers prefer buying low priced Italian machines
- Japanese companies operate almost entirely without marketing department or Marketing R & DGE Chairman John F. Welch Jr. contributed that they have done it not by looking with mechanistic thoroughness at the way markets are different but rather by searching for meaning with a deeper wisdom, They have discovered the one great thing all markets have in common: (Desire for dependable, world standard modernity in all things, at aggressively low prices and irresistible values!Now a day the trend is : a combination of product reliability and quality, strong and sustained supported systems, aggressively low prices, and sales compensation packages
- So is it Canadian, German, Italy, Russian, Chinese, Japanese, French, British or remain American or will turn to have no more flag with product standardization!
- Imperialism: one country domination over another economic, political, cultural systemEconomic shock: such as recessions because we rely on each other so if something went wrong in one country the whole system is been affected ex. Worldwide recession in 2009