• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Globalization - discuss the integration of the worlds economy.

Extracts from this document...

Introduction

Globalization Essay Globalization can be defined as the integration of the world's economy. The director is pro-globalization. He believes that globalization has many long-term benefits and that the anti-globalization movement is extremely ignorant to a dangerous extent. The reason why globalization has previously been considered bad is because it has been claimed to create poverty. This is a wrong claim because only after modernization the countries have started to escape poverty. Therefore, countries have to be integrated into the global economy in order to grow and develop. A good example of that is Sweden because they are in a much better situation now after they allowed themselves to globalize. Due to globalization, three billion people have been lifted out of poverty in the last 50 years. Furthermore, globalization brings wealth and freedom to everyone due to capitalism. If there is more of a free market, there are fewer restrictions and therefore, more money. Finally, the director believes that globalization is good. His thesis is that globalization would solve the problem of poverty if it were to increase and be unrestricted. The director is very pro-capitalist. The good effects of globalization can clearly be seen in Taiwan. Thirty years ago, Taiwan was a very poor country, until they allowed themselves to globalize. Within the first ten years of globalization, more than half of the poverty there was gone. ...read more.

Middle

Another way in which the workers had their lives improved at Nike after globalization is financially. Nike pays about $54 per month for their workers which is a high salary for their standards and can be compared with the payment a teacher or doctor receives. This salary is also very high when compared to the minimum wage in the country which is of $15. The workers that work for Nike also have some other benefits such as healthcare subsided, free meals, commerce close to the factories, a park for workers to relax during breaks and restricted working hours. Many people left and came back. They preferred to work at Nike rather than at a farm because at the farms they had to work fourteen hours a day and it was not as clean and did not have food. Globalization has given people the chance to buy and decorate their own houses which would be unthinkable beforehand. Despite all that, anti-globalists have scary visions of the future for what multinationals must do. They fear the monopolies that they could create within a country. However, multinationals are actually less powerful because free trade controls them in a way because of competition. It is also those multinationals which are helping Vietnam get wealthy. For example, Nike gives micro loans to people who want to start businesses but that do not have the capital to do so. ...read more.

Conclusion

Another reason as to why Kenya should open itself up for globalization is because Taiwan used to be just as poor as Kenya, but now after their economic boom and their democracy, they are 20 times richer than Kenya. Therefore, it can be concluded that the director was proving a thesis that globalization is good and it would solve the problem of poverty if it were to increase and be unrestricted. The examples of three different areas have been given. These areas are Taiwan, Kenya and Vietnam. Taiwan used to be extremely poor until they opened themselves up for globalization and now they have been prospering a lot more. Vietnam is also receiving many new advantages by letting multinationals, such as Nike, into their economy and by adding a capitalistic economic system. Kenya, on the other hand, is still not part of this globalized society and a clear line can be marked between their economy and their lifestyle and the economy and lifestyle of countries that have allowed globalization into the system. The one area of products that Kenya is allowed to export to Europe, the flower business, plays a very important role in their economy and it would not be the same without it. Therefore, it can be concluded that globalization has been increasingly, and will continue to play an important role for countries that are under development. In order for them to grow and prosper, there needs to be a capitalistic system which is as un-restricted as possible. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Business Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Business Studies essays

  1. Difference in working culture of Malaysia & Singapore

    Watch your step! The burnt offerings, foodstuff and other items on makeshift altars that you'll see everywhere during the seventh month is meant to appease the dead. Spirits come by to partake of the feast and claim these offerings, so treat such items with respect and never step on the burnt offerings.

  2. Advance Professional Development

    Apply your communication skills, both orally and written, and use ICT 1 2 3 4 5 * understand the differences in presenting types of documents, e.g. reports, essays, dissertations, summaries * check written work for errors before submission * use a range of ICT packages to support work * express

  1. Thai Tuan Textile Company, Vietnam - Marketing Strategies

    After building a strong brand in Vietnam, Thai Tuan gradually starts to export to abroad. Product Positioning Thai Tuan sticks its brand image with Aodai- the traditional custom of Vietnamese women- a symbol of Vietnam's culture. The basic element of Aodai, and also of Thai Tuan products is creating elegance for ladies.

  2. Position Paper: The Contribution of Globalization to Sustainable Prosperity

    I understand that this new industry is bringing in a huge profit for the country. The local people go to the ships and take items they can sell like; toilets, sinks, pumps, small engines, lifeboats, furniture, batteries and anything else that could be sold for money.

  1. SWOT Analysis of Apollo Language School, Vietnam.

    tremendous ?Adults Save & Learn program ?which craves a frightening entrance permit ? 20 million VND at maximum. On the other hand, based on the orientation of the company, Apollo?s essence is not about international English programs and therefore, their fees for IELTS or TOEFL degrees only reach the comb of 8 million VND.

  2. Organisational Behaviour (in short called as OB) is concerned with the study of the ...

    He introduced the Human Relation School of thought, which focused on managers taking more of an interest in the workers, treating them as people who have worthwhile opinions and realizing that workers enjoy interacting together. From this Mayo concluded that workers are best motivated by: â Better communication between managers

  1. Questions on Globalisation and International Trade

    For Ecuador?s consumers, the success of the industry means bigger, more vibrant flowers than were previously available. Most students will recognize that the conditions in Ecuador give the country a distinct advantage in rose growing, and that by focusing on the industry, Ecuador has been able to benefit from international trade.

  2. Case Analysis. Since the beginning of Madonnas career she has been thriving to ...

    Relevant Factual Information about the Problem or Decision the Organization Faced Madonna is a very committed business woman. She had the ambition and visualization on what exactly she wanted in her life, and developed a strategy to there.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work