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The Impact of Globalization on Economic Development

   

Added on  2019-10-01

8 Pages2171 Words153 ViewsType: 153
Economics
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Running Head: EssayPersuasive essay
The Impact of Globalization on Economic Development_1

Table of ContentsIntroduction................................................................................................................................3Body...........................................................................................................................................3Conclusion..................................................................................................................................7References..................................................................................................................................8
The Impact of Globalization on Economic Development_2

Topic: Globalization: Will it unite or divide the world? Is it another form of political,economic, and social control of one group?IntroductionGlobalization is the economic process of integration and interaction which is associated withthe various cultural and social aspects. It is the process that makes the business organizationscreate and influence business on a global platform and on the international scale.Globalization has implied various changes. The aspect of cultural preservation has not yetbeen the major concern as a result of which the changes which the people have allowed andencouraged for the overall outcomes. Globalization has been able to make the entire societyrealize its potential to bring in improved outcomes. It is a matter of concern about whetherglobalization unites or divides the world. Undoubtedly, it can be said that globalization hasbroken down the barriers and obstacles between the nations and their populations. It is alsotrue that globalized markets provide opportunities for generating an imagined wealth. Theessay entails the analysis of whether globalization has united or divided the world andwhether it is a form of social, economic and political control.BodyIt has been observed that various American and European multinational organizations havebeen acquiring small and medium scale companies of the developing nations. Globalizationhas solved the problem of capital access but it has also produced emerging vulnerabilities topolitical and domestic tensions particularly during the time of crisis. But the vulnerabilitiescould not underestimate the benefits globalization has brought in to the internationaleconomies. It has united the economies and nations on a global platform. Despite thevulnerabilities globalization creates, it cannot be denied that it compels the businessorganizations to expand and enjoy the economy is of the large scale of business. it helps thebusinesses to get adopted to various strategies on the basis of new ideological trends. it alsotries to balance the interests and rights of both the communities and the individuals. it hasrevolutionized the entire economy on the global platform. it has brought in various changeswhich have compelled the business organizations to compete on the international platform.globalization also signifies a remarkable change for business management, leaders, andworkforce by legally accepting the engagement between the government and workers instructuring and implementing various organizational strategies and policies. the business
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