Economics Globalisation Essay - 3737 Words

August 14 August 14 Economics 2013 grade 11 Economics 2013 grade 11 Globalisation Research Essay Sarah Morritt-Smith and Bilqees Baker â€Å"THE WORLD HAS BECOME OUR GLOBAL VILLAGE Globalisation is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Put in simple terms, globalization refers to processes that increase world-wide exchanges of national and cultural resources. Advances in transportation and telecommunications infrastructure, including the rise of the Internet, are major factors in globalization, generating further interdependence of economic and cultural activities.† (Source: http://en.wikipedia.org/wiki/Globalization) Globalisation Research Essay†¦show more content†¦This is also an example of outward-bound globalisation. Inward-bound globalisation is when an international brand comes to South Africa. An example of this is the UK clothing brand Topshop opening up in SA. This means that clothes are imported into the country from the international market. Networking is the functional integration of economical activities connecting businesses enabling forward and backward linkages across the globe as well as improving access to foreign investors and global outsourcing for local businesses. Regionalisation is the process of amalgamating countries to create hypothetical regions, for example the EU (European Union) that is an economic and political union of 27 independent member states located in and around Europe. They all share the same currency and have a direct effect of each other’s economic strength. Free trade agreements are also signed between countries improving globalisation. A recent example is the NAFTA agreement signed in 1994 between Canada, Mexico and the USA. These countries in the agreements are all producing the opportunity for businesses to pursue multiregional strategies. It is argued whether regional integration is a building block improving globalisation or whether it is a stumbling block hindering globalisation. It is still a young process that requires examination over a few more years which can determine its success. Causes of globalisation: Many developments stemmed from the IndustrialShow MoreRelatedGlobalization: Threat or an Opportunity1337 Words   |  6 PagesThe term globalisation has significantly influenced many countries all around the world. It is a process that happening in most countries and considerably changing many things. Globalisation is proved that it is inevitable; moreover, it is irreversible. In few decades, this process has been running very unbelievably quickly without any control or a plan. Some people see it as it is beneficial and may develop many countries economy, politics, culture, and environment. 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It also implies changes in communication policies and their impact on cultural autonomy and identity not only in weakerRead MoreThe Economic Aspects Associated With Globalization1467 Words   |  6 Pagesthe world†, globalisation has thrived in recent years owing to developments in communication, transportation and trade, accompanied by the enhancement and increased use of information technology. Whilst at first glance this could be regarded as beneficial, it has nonetheless provoked a number of high profile and often violent protests of late. Notably the biggest anti-globalisation demonstratio n ever experienced was in Seattle in 1999 involving 40,000 activists (BBC News). Globalisation has a multitudeRead MorePositive And Negative Effects On The Area Of Education858 Words   |  4 PagesThe Positive and Negative Effects of Globalisation in the Area of Education in the World Today It is universally believed that globalisation has transformed the world into a small village. 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