Globalization is a world process

Globalization is a world process

Globalization is a world process. All the countries, communities, national industries try and tend to make one, global unit. The reason is making the communication easier, more qualitative.

In such sphere as economics all companies and industries try to conduct their business around the world. The process of globalization consists of such aspects as free capital flow, reduction of shipping costs, economy of scale.

Nowadays we can see a lot of transnational companies with many their subsidiaries.

There is also a global tendency to determine some countries, as "the countries of the 1st, 2nd and the 3rd world". Countries of the 3rd world are the suppliers of different resources. And the countries of the 1st world have the most developed economy.

Each large industry has its own niche market with its own difficult structure. Some dominate, but some collapse. It's all depends on competition between the products.

These aspects are the positive sides of globalization. Thus globalization lead to more responsible approach to work, to the best quality.

But there are also negative features, such as globalization generalizes and makes standards in all spheres. And it's more difficult to find talented and gifted people.

Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown national markets through industrial combinations and commercial groupings that cross national frontiers, and international agreements that reduce the cost of doing business in foreign countries.

Globalization offers huge potential profits to companies and nations but has been complicated by widely differing expectations, standards of living, cultures and values, and legal systems as well as unexpected global cause-and-effect linkages.

Globalization is a world process

By: Vit57

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