GLOBALIZATION - Topic: Globalization Name: Date:...

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Topic: Globalization Name: Date: Instructor: Globalization 1
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OPPORTUNITIES AND THREATS FROM GLOBALIZATION What is Globalization? Globalization is a process by which the societies and cultures of different countries merge by using a common system of communication, trade and transportation to make the world a global village. Globalization is a far broader concept than the widely known and discussed term ‘Economic Globalization’, which is a subset of Globalization and means the interdependence and integration of regional economies by increasing mutual international trade, foreign direct investments (FDI), cross border human migration and mobility, and the rapid proliferation of technology. Effects of globalization on the world economy Although globalization, by way of its definition, has been occuring through thousands of years in the form of transnational trade, but it has gained noticeable momentum over the last 2 or 3 decades. Furthermore, after the World Trade Organization has been made and its charter been enforced over all the world economies, this has further pushed the limits of international trade and globalization by reducing trade barriers and protectionism by some national economies to save their local industries and thus has played a crucial part in promoting free international trade throughout the world. Globalization 2
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Due to Globalization, businesses which intend to market and sell their products in other countries (to access untapped international markets and earn more profits,) now have a spectrum of strategic options. For example, they can either,
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GLOBALIZATION - Topic: Globalization Name: Date:...

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