Globalization Literature

Globalization LiteratureAHONARUOGHO YEWANDEGlobalization is an requisite phenomenon, which is rather hard to put into words and as a declaration go off be explained in various ways. Globalization which encompasses variant aspects of the innovational existence, bringing nations of the world closer into a single society through with(predicate) culture, stinting transactions, politics, engineering science and mixer interactions is making an ever changing world. GPF (online) n.d adjudge to Beck (2000) online Globalization regardless of how it is individu eachy interpreted gives the implication of the deterioration of a utters s everyplaceeign poewer and the structures that guide the territory.The world-wide interconnectedness betwixt nation-states be start outs supplemented by globalisation as a do by in which basic societal arrangements (like power, culture, marts, politics, rights, values, norms, ideology, identity, citizenship, solidarity) become disembedded from their s patial context (mainly the nation-state) receivable to the acceleration, massification, flexibilisation, diffusion and expansion of transnational flows of people, products, finance, images and in practiceation this states that repayable to the increase flexibility and ease of mobility of many promoters in an economy that social arrangements have become disembedded from their nation states, all of which is cognize as globalisation. beerkens (2004) onlineThe characteristics of the globalisation trend include the internationalizing of output signal, the revolutionary international ingredient of labor movement, new migratory movements from South to North, the new competitive environment that generates these processes, and the internationalizing of the state making states into agencies of the globalizing world. This quote is informing about the concepts and characteristics that make up globalization focusing on the internationalization of many aspects of economies. Cox (1994) onlineNations tend to come unitedly in form of global joins, these concretions atomic number 18 sparing to or so extent, and a great deal(prenominal) exist in spite of appearance bargain axis vertebras. guile axis is an covenant which is formed between states, regions or countries in order to reduce the interchange obstructions which make duty inconvenient, amongst the regions involved. A well know utilization of this form is NAFTA, which is a craftiness agreement between the United earths, Canada, and Mexico. Opp unitarynts to plenty blocs reckon such agreements are harmful to indigent trade on a global aim Investorwords (online) n.d. address blocs have rules that guide their interaction with nations within the economic union as well as those that are non members of the union. Manish (2012) onlineTrade blocs are of distinguishable varieties, requiring different levels of commitment and arrangements from the members of the union. To be of the location tha t globalization is purely an economic union would be false and faulty as just trade blocs show globalization as six-spot different forms of unions. Manish (2012) onlineTrade blocs have certain objectives goal which they aim to achieve, one of which is to stumble the quellrictions to trade among the members of the union, thither by promoting free trade and hot movement of resources between members. BMS (2013) onlineTrade blocs aim to improve the social, economical, cultural and political relationship between its members through the integration of economies, social programs could encourage this promoting peace in the region. BMS (2013) onlineTrade blocs have the objective of achieving an increase in economic growth amongst its members. As a gist in the decrease in trade barriers, it puts firms in a position to produce at refuse prices, which would in turn increase demand and lead to a orotund scale of production. This can result in economic growth and curl investment. BMS ( 2013) onlineA Preferential Trade Areas is also a type of trade bloc, interconnecting the nations of the world on an economic level, this is the least committed to trade barrier reductions. In this union members lower more(prenominal) all over do not overstep trade barriers amongst themselves and no set arrangement is agreed about their interactions with non- members. Manish (2012) online loosen Trade Area is the next stage after, the Preferential Trade areas, all trade barriers are eliminated for members when relating with each early(a), so all the members are commensurate to import and export goods and services amongst themselves. An example is the North American free trade agreement of 1994 between the Canadians, Mexicans and the US these members establish independent trade policies when relating with non members. Manish (2012) online another free trade area example is the European absolve Trade Area. Shahid (2010) online springer Union is the third trade bloc. The member st ates remove inhering trade barriers as well as also agree to implement the same set of common policies when relations with non member states. Customs union of Russia, Belarus and Kazakhstan, which was initially created in 2010, is a custom union other custom unions include European Union Custom Council, East African Community. Manish (2012) onlineThe super acid Market is a trade union where members internal trade barriers are removed, common policies/ barriers are implemented for dealing with trade involving outside segmenties and free movement of resources such as labor exist. Examples of common market include Mercosur (Southern Cone Market), East African green Market, European Economic Area and West African Common market. Manish (2012) onlineAn economic union is one of the trade blocs that exist between nations that further make the nations of the world more integrate and connected. It requires members to remove internal barriers and agree to use common barriers for external ly, allowing free movement of resources and adopt a unified set of economic policies. The European Union is an example of such with one currency they have adopted one monetary policy. Manish (2012) onlineAn economic union such as the European Union speeds up the process of globalization, increasing trade amongst the members of the EU as well as increase labor and capital mobility such as migration of Poland citizens to the United Kingdom and Ireland. The EU has expanded its sphere of influence to over 20 countries, making for over 356 million in population. Pettinger (2008) online Other economic unions include CEMC (economic and monetary partnership of central America), OECS (organization of eastern Caribbean states), UEMAO (west African economic and monetary union).shahid (2010) onlineIn supplement to the integration of the nations belonging to the trade blocs it is also seen that globalization is further aided by trade blocs which make negotiations easier on a global level. An object lesson relating to trading negotiations is, the European Union bargains as one singular bloc making it easier and warmer to push through practices which increase free trade. Pettinger (2008) online beneficial Integration is the final stage, coming after economic union. The members become full integrated an example is the United States. Manish (2012) onlineWhen viewing the definition, principles and aims of both globalization and trade blocs, they complement each other, both resulting in interdependence and increase in trade Wang (2010) online. As a result it is easy to assume that globalization is purely an economic union formed by trade blocs. However, it should be noted that trade blocs can be seen as a bulwark to globalization because it promotes regionalization and not global elimination of trade barriers, causing contradictory parties to fight for regional interest thereby building trade barriers for the rest of the world and preventing the importation of goods from o ther countries Wang (2010) online.This contradicts with globalizations purpose of one world and link up of all nations and free trade amongst all Wang (2010) online. For example, the EUs lens hood placed high tariffs on importation of food and the dumping of redundant food items onto world markets. Pettinger (2008) onlineTrade blocs especially at its most integrated economic level when a common currency is established and a common financial policy within the union exists among the members- economic union- it leads to reduction of the power and sovereignty of a national government over its accept territory. Although the states can take independent decisions to influence the total demand, income allocation and the level of production of their economies through the use of simple fiscal policies unless common fiscal policy is implemented in the economic union. As a result monetary and fiscal policy integration is the basis for an economic union and the application deepens the integ ration of its members, making it a single economic union and removes all kinds of economic borders. Hashimov (2013) onlineTrade blocs provide a larger market for exportation of goods, this creates a forum for the global products which can be relate between nations of the world, and this creates the possibility for more revenue for nation states. Admin (2012) onlineTrade blocs out-of-pocket to the integration of markets leads to increase in competition and productivity on the part of the nations belonging to the same trade bloc, ensuring to produce quality goods while the consumers had increased choice and lower prices due to the size of the market and number of competitors. Admin (2012) onlineTrade blocs make for a higher and increased rate of investment due to the larger market unattached as market is expanded. Admin (2012) onlineTrade blocs moreover have the negative effect, for example they undermine the efforts of WTO (world trade organization) because there is a possibility that the whole world would become regionalized and that would prevent trade liberations due to the rules and norms associated with trade blocs. Trade blocs would deter the WTO goals and undermine international trade laws. Admin (2012) onlineTrade blocs have the negative effect to globalization of creating unfriendly political tensity and hindering diplomatic relations between members of a trade bloc and non member through discriminatory policies. Admin (2012) onlineOther factors unrelated to the trade blocs are important and significant to globalization. The main contributing factors to globalization could be argued but these are some factors that are contributingImprovement in technology which enable global apotheosis and communication to be carried out much easier, which also helps reduce the barriers of distance. Pettinger (2008) online the level of improvement in technology of transport and communications has conduct to a reduction in the prices for transferring goods, servi ce and factors of production as well as making it easier and cheaper to communicate economically effectual knowledge and technology. Mussa(2000) online Information technology is a main contributor in the process of globalization in form of a catalyst, it increases the accessibility of discipline and economic potential. Enabling for efficiency in the economies of nations as political and mercantile information can be transferred easily and at a fast rate. Information technology encourages the creative use of resources to promote and advertise new products and ideas across borders and cultures regardless of its geographical location. Technology is now the leading factor of the modern world creating employment, new ideas, and networking sites which enables global connection and communication.globalisation101 (n.d) onlineThe growth of multinational companies. Pettinger (2008) onlineGlobalization is also a political union of nations around the world, there are military-political blocs existing which is a union among states that have agreed to unite, join forces and have unified actions and responses to address common political, economic and military tasks. Encyclopedia(1979) online an example of a political union is NATO.G. Bertucci and A. Alberti , wrote an article Globalization andThe Role of the State Challenges and Perspectives, in which it was stressed that economic globalization is in actuality as a result of political decisions made my nation. Stating that the expansion of international trade as well as finance and investment Transactions do not radically influence the persona of nations while the high level of coaction and joint active show states exercising their sovereign authority over their territories. Thus the authors are of the view that collaborative action instead of debilitative their authority over their state reinforces their authority by creating a more secure global environment and greater possibility for exchanges in different areas. H ashimov (2013) onlineGlobalization is also an economic union, it impacts employment, working conditions, income and social protection. Beyond the world of work, the social dimension encompasses security, culture and identity, inclusion or exclusion and the sleaze of families and communities. Todayszaman (2010) onlineIn conclusion, globalization is an economic union of nations after all globalization is generally referred to as economic globalization as it brings nations of the world together and forms a more integrated and interdependent world. Economic union has led to increased flow of information and ideas, and had led to a change in the way nations interact amongst themselves. However it should be noted that economic unions can be seen as a hindrance to globalization itself which contradicts the view that globalization is an economic union and in addition globalization is also a political and social phenomenon not solely economical. 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