3 Globalization notes

3 Globalization notes - Globalization Unlike international...

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Globalization Unlike international trade, Globalization refers to the movement of capital ($), information, goods and services among multinational corporations. Largely ignores the traditional roles of international boundaries A geographic reorganization of industrial production and service provisions
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Globalization is a word that has several connotations today. But broadly speaking, it is a process which began around the late 1970s, by the shift in world economy from an international to a more global one. In the international economy, individuals and firms from different countries traded goods and services across national boundaries, and the trade was closely regulated by nation-states. In the global economy, goods and services are produced and marketed by an oligarchic web of global corporate networks whose operations, although spanning several national boundaries, are only loosely regulated by nation-states.
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The paradigmatic shift to a global economy has been possible because of the 'Information Technology' revolution ushered in by synergistic developments in the fields of microelectronics, opto-electronics, computing, and telecommunications. The global economy is therefore also an informational economy , in which the method of production has shifted from mass production of goods at a centralized location (Fordism) to a flexible system of production (post-Fordism). Kushal Deb, Humanities and Social Sciences
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People The deliberate creation of markets being offered identical or nearly identical consumer goods Internal movement of populations in developing countries toward large cities (seeking employment) Immigration of people in developing economies to the U.S., Canada and Western Europe
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WORLD CITIES Cities that are the location of headquarters for multinational corporations (executive and management functions) Provide advanced telecommunications infrastructure required for corporations to control their global assets and enterprises New York London Tokyo
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Functions of World Cities Centers for tourism, commodity trading and foreign investment Banking, insurance and financial services
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3 Globalization notes - Globalization Unlike international...

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