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Write a written report on Globalisation

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Introduction

________________ Globalisation Globalisation describes a process by which national and regional economies, societies and cultures have been integrated through the global network trade, communication, immigration and transportation. Over the a few decades, the economy developed rapidly which means that, globalisation was often primarily focused on the economic side of the world such as trade, foreign direct investment and international capital flows, more recently the term has been expanded to include a broader range of areas and activities such as culture, media, technology, socio-cultural, political, and even biological factors e.g. climate change. Global trade has grown enormously since World War II, International trade in manufactured goods alone has grown an estimated 100 times from $95 Billion to $12 trillion in the 50 years since 1955.[1] Finally, globalisation has eased the roles of the UN which officially came into existence on 24 Oct 1945. With the help of globalisation, International Financial Institutions like World Bank assists developing countries like Kenya and Nigeria to provide loans for capital programs. Reasons for Globalisation The introduction of the World Bank and International Monetary fund provided the gateway for globalisation. The loans that are granted by the IMF AND World Bank on the condition that the borrowing country will reduce the state's role in the economy, lower barriers to imports, remove restrictions on foreign investment, eliminate subsidies for local industries etc. ...read more.

Middle

Information The internet is essentially a network of computers across the world which is linked through global telecommunications. Although it was originally only used by defence personnel in the United States, easy access to computers and related technology have made using the internet a common activity in more recent times. The World Wide Web enables people from almost anywhere in the world to access information on almost any topic from shopping to weather forecasts; and from research to downloading music and movies. In addition to the internet, global media networks (corporations which include television and media companies with branches in multiple countries) also bring news and information about current events to people all over the globe. It is now possible for someone in Australia to pick up a copy of an American fashion magazine, or for someone in the United States to watch the Ajazeera news. Communication The cost of telecommunications has fallen dramatically in recent years, thus encouraging trade. Presently, conferences it is possible to conduct conference calls between several countries on mobile phones anywhere. Computers and broadband enable complex information to be passed easily and swiftly from one country to another. Hence, businesses can make quick decisions, reacting swiftly to dynamic changes in markets and seizing opportunities ahead of competition. Therefore, cost and supply chains are built with minimum risk. For example, as a result of globalisation, the cost of a 3 minute telephone call from London to New York dropped from 100 in 1930 to less than 1 in 2004. ...read more.

Conclusion

However, global sourcing is not limited to low-cost countries. Likewise recently, Coca-Cola?s continuous growth and efficiency has led to the worldwide phenomenon opening a bottling plant in the city of Luohe in Henan- the company?s second largest production facility in China.[17] As a result of the firm?s expertise in various beverages like sprite and Fanta, globalisation has enabled companies like coke to gain specialized and efficient services from various plants globally. Globalisation has its benefits when it comes to global sourcing: learning how to do business in a potential market, tapping into skills or resources that are unavailable domestically and increasing total supply capacity.[18] Also, Nike; a global success ensures economies of scale because it targets the areas in the world that will yield more revenue and minimised costs. Nike?s production facilities are usually staffed with people of nationalities whereby a minimum wage is more or less non-existent. This has given Nike the advantage of cheap labour. Conclusion Globalization has created the broadening, deepening and speeding up of world-wide interconnectedness in all aspects of life, from the cultural to the criminal, the financial to the environmental. Presently, there seems to be 'a global shift'; that is, a world being formed by economic and technological forces, into a shared economic and political arena. ________________ [1] http://economictimes.indiatimes.com/opinion/guest-writer/a-brief-history-of-globalisation/articleshow/3276531.cms [2] http://www.trcb.com/finance/economics/globalization-causes-benefits-and-consequences-419.htm [3] http://www.forbes.com/sites/chuckjones/2013/08/30/while-apple-retains-lead-samsung-gaining-mobile-traffic-market-share/ [4] http://www.macobserver.com/tmo/article/apple_total_ios_device_sales_top_365_million [5] migration.ucdavis.edu/mn/more.php?id=3408_0_5_0? [6] http://www.tutor2u.net/economics/content/topics/macroeconomy/economic_shocks.htm [7] http://www.invest.gov.tr/en-us/turkey/factsandfigures/pages/economy.aspx [8] http://www.investopedia.com/terms/e/emergingmarketeconomy.asp [9] http://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm9_e.htm [10] http://ringlet86.wordpress.com/2008/08/31/what-is-the-role-of-the-world-trade-organisation-wto-and-has-it-been-successful-in-achieving-its-goals-why-what%E2%80%99s-the-future-of-the-wto/ [11] http://www.morningstar.co.uk/uk/news/67559/the-changing-role-of-emerging-markets.aspx [12] http://www.pimco.com/EN/Education/Pages/EmergingMarketsEquity.aspx [13] http://www.skwirk.com.au/p-c_s-57_u-185_t-493_c-1813/the-role-of-technology-in-globalisation/nsww/// [14] http://blogs.worldbank.org/developmenttalk/global-investment-patterns-will-see-radical-changes-2030 [15] http://www.tutor2u.net/economics/revision-notes/a2-macro-globalisation-introduction.html [16] http://en.wikipedia.org/wiki/Global_sourcing [17] http://www.packaging-gateway.com/projects/cocacola-bottling/ [18] http://www.un.org/en/globalissues/africa/ ...read more.

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