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Globalisation
WHAT IS GLOBALIZATION?
Globalization is an Umbrella and term defined precisely by IMF is the growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows and more rapid and widespread diffusion of technology.
GLOBALISATION
PHASES OF GLOBALIZATION
The first era of globalization (1850 1945) was Pax Britannica under gold standard and the second phase (post second World War) is Pax Americana under Bretton Wood System
Final Act
WTO AGREEMENTS
AGREEMENT ESTABLISHING WTO
TRADE IN SERVICES
WHY GLOBALIZATION?
New opportunities to developing countries.
Greater access to developed country markets. Technology transfer lead to improved productivity. Higher living standard.
New Markets
Services Financial markets Antitrust laws Global brands
New Actors
Multinational Corporations W.T.O Criminal court NGOs. Regional blocs Policy coordination
Internet & electronic Cellular phones Fax machines Cheaper transport Computer-aided design
Counter trade
Strategic Alliance
No matter where you go in the world, certain businesses will always have a presence.
pictured above is the new 2009 Jaguar XF world's most expensive cars
MERITS OF GLOBALIZATION
AVAILABILITY OF GLOBAL PRODUCTS
FOREIGN INVESTMENT
OPEN ECONOMY
Integration of Economies
.
The increasing reliance of economies on each other
The opportunities to be able to buy and sell in any country in the world
DEMERITS OF GLOBALIZATION
EFFECT ON LOCAL INDUSTRY
POLITICAL INTERFERENCE
CREATES UNEMPLOYMENT
SOCIAL, ECONOMIC, CULTURAL, LEGAL, POLITICAL THREATS INCOME INEQUALITY
FEATURES OF MNEs
Worldwide operation. Centralised capital. Sophisticated technology. Professional management. International market. High brand equity.
Retarded development.
Detoriation of countrys culture
Retard employment
Deplete local resources Undermine culture
IMPACT OF TECHNOLOGY
OPPORTUNITY OR BURDEN
Introduction. Dependence on technology. Bringing the world closer. Effects. Improving economy. Increased quality life. Emergence of industries. Unpredictability.
TERRORISM:ROLE OF TECHNOLOGY
Negative response to globalisation. Information Technology is the heart of Modern terrorism. Ability to exploit technology. Internet. Cell phones, e-mail, satellite communication.
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