Globalizaton Essay -- Economics Economy Papers

Globalization is a term that has become very popular in recent times. It is a concept with many differing definitions. Thomas L. Friedman, author of The Lexus and the Olive Tree, describes globalization as a movement that enables individuals, corporations, and countries to reach around the globe farther, faster, deeper and cheaper than ever before. Globalization is the penetrate of free market capitalism to virtually every country in the world. Countries are encouraged to allow free trade, privatization and competition. Basically, it involves worldwide integration of both sparing and political ideals. Globalization is becoming more popular and more accessible mainly because of the recent advancements in technology. Many believe it to be a supreme phenomenon, while others believe that it is very bad.The rise and spread of globalization has brought along with it many supporters and opponents. Benefits of globalization are that it creates jobs, generates prosperity, raises standards of living all around the world and often more. When companies do business in other countries more jobs are created. Companies such as Nike, Levis, Coca-cola are constantly building factories in less developed countries, such as Indonesia, Vietnam, Dominican Republic and many more. These factories are providing jobs for thousands of people who would otherwise not be able to find work anywhere else. This helps the human rights publishing and can be beneficial for the overall economy of the country as well as the individual. James Robinson, former head of American Express said, I think its helping human rights because what its doing is its giving jobs to people at salary levels that they never had access to before. So in time I think this becomes more self... ...obalization. October 2000The World Trade Organization. www.wto.org Geneva, Switzerland. October 2002Public Broadcasting Service. Transcript Globalization and Human Rights. www.pbs.org. October 2002Panayotou, Theodore. Glob alization and Environment CID Working Paper No. 53. July 2000North American isolated Trade Agreement. NAFTA A Foundation for Canadas Future Prosperity. http//www.dfait-maeci.gc.ca/nafta-alena/over-en.asp Canada. September 2003FDI Magazine. Egyptian Endeavors. www.fdimagazine.com. December 2003. Hill, Charles. International Business Competing in the Global Marketplace. The McGraw-Hill Companies, Inc., 2005Tseng, Wanda and Zebregs, Harm. Foreign Direct Investment in China Some Lessons for Other Countries. International Monetary Fund, February 2002.