Globalization's Impact on Romania

This assignment examines the multifaceted impact of globalization on Romania. It delves into both the positive and negative consequences of globalization on the country's economy, society, and environment. The essay analyzes how globalization has affected various aspects of Romanian life, including economic growth, trade relations, cultural exchange, and environmental degradation. It also considers the perspectives of individuals within Romania and how they have been influenced by the process of globalization.

How did globalisation impacted
your region and you as an
individual

Table of Contents
INTRODUCTION...........................................................................................................................1
Globalisation in Romania............................................................................................................1
Globalisation effect on the individual.........................................................................................2
Romania before and After joining European Union...................................................................2
External factors and globalisation...............................................................................................2
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Globalisation refers to as the free movement of services, goods, people, technology and
information. It can be understood as set of procedures among countries originating from series of
ideas, cultural aspects, ideas and products. Advancement in the field of communication, means
of transportation and IT technology has made the world a global village (Baylis, Owens and
Smith, eds., 2017). This process is effected by economic and social resources, natural
environment and business and work organisation. There are four identified empirical dimension
of globalisation such as cultural, ecological, economic and political that has effected the
countries like Romania. This country is located in the southern Europe and is a sovereign state.
Romania has about 20 million habitant and is the second most populated member state of
European union. This report highlights the impact of globalisation on the Romania and and on
every individual.
Globalisation in Romania
As a part of European union Romania has also faced globalisation as the rest of the
world. It will be unjustly to see globalisation in only economic terms rather it is a set of
procedures that has impacted the freedom of people by making world a global village where
every one is connected with each other by the technology and can move from one place to
another by the advance means of transportation. Due to globalisation this country has seen
various transformations in the economic, social, technological, legal, ecological and political
environment. These external factors have changed the life of individuals like me. I have seen that
any change in the above mentioned factor anywhere in the world have changed the environment
of this country as well. Whole Europe has encountered several changes in the past few years and
so is its member states (Carp, L. and Popa, D., 2013). Southern Europe has incorporated these
changes from the Last few decades as they formed the European union that allows free trade,
movement of people and helped members state in sharing their resources for each other
development. It has become easier for the individual to communicate to the various people
through the use of communication technology. Reduced barriers among the countries especially
in European union has facilitated globalisation and liberalisation in the global market. There are
significant changes in the structures of country's economy, culture and various other framework.
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Globalisation has increased the competition among different companies that has posed a
challenge for the ecology of Romania.
Globalisation effect on the individual
Globalisation not only has effected the country's framework but has also effected
individuals. It has given me more access to broader set of services and products as we have
access to the various offerings by different companies from throughout the globe (Dima,
Grabara and Vladutescu, 2014). It has led to new opportunities for capital investments and profit
making as the tariff barriers and taxes have reduced. It has opened market of various countries
for the employment purpose as the outsourcing of talents have increased in the past few decades.
Sharing of cultures across the boundaries have helped countries in making the life of people
more advanced and civilised. It made our lives more connected with each other by the use of
communication mediums. It has changed the taste of people and has made it somewhat common.
Environments have changed for individuals like me. It has made the lives of people faster in
which they have to do lot of things in limited day time. There are some adverse effect of
globalisation especially on the labour cost which has reduced considerably due to easy
availability of cheap labourers. It has increased the uncertainty regarding safety of jobs as any
company can move into the Romania economy and can come out when facing difficulty in
operations. Now I just don't just have to compete with People in my country but with the
population of whole world.
Romania before and After joining European Union
Before joining EU economy of Romania was weak and needed a life support mechanism
for its growth. Cited country has to overcome deficiencies in the judicial reform, fight against
corruption and rule of law (Gurgul and Lach, 2014). These reform has made the economy
stronger. It has changed the judicial and legislative system and string of protest which led to
resignation of prime minister.
External factors and globalisation
Political changes due to globalisation
In the last few decades political system has to cope of various structural changes in
economy and society due to globalisation. Romania would consist of consolidating political
influence in the Balkan area. Every country is trying to be political power in the world. Any
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change in the political environment any where in the world has influenced Romanian region as
well. Super power like America and Russia uses its political status in changing the global
environment. Under globalisation politics have gone through political integration scheme
through intergovernmental organisations like IMF, WTO, world bank or European union. This is
the effect of globalisation that even change in the political condition of one region in the world
influences the political condition of the whole world. Countries like Romania is highly
dependent on political condition of bigger members of European union (Tuca, 2013).
Globalisation has posed a threat to political sovereignty of Smaller countries as bigger countries
tries to suppress them politically. Governments have have changed the policies of employment
and taxation throughout the world due to global political scenarios which has effected me as
well.
Economy and globalisation
One of the severe effect of globalisation is on the economy of various countries. If we say
that globalisation is a cause of economic changes in the last two centuries it will not be wrong.
From early 18th century industrialisation have changed the ways of doing business and it has first
started in the Europe only. Industrialisation has initiated the chain of making global market by
capturing various colonies (Ionescu and Dumitru, 2012). These tussle between countries for
capturing other countries ultimately lead to World War I and World War II of which Romania
was a part. The financial systems of the whole world have become interdependent on each other.
This dependence of every region on other has changed the economical condition of the every
country. Multinational companies are providing base structures for globalisation. Low cost of
transportation and less tariff for cross border trade have boosted the process of globalisation.
Financial crisis in even one region changes the financial system of the whole world. Romania has
been effected by the financial crisis of 2009 in the whole world. We have seen in past few year
that the slow growth of American economy has influenced the growth of European union
member states also. European commission report for Romania have suggested that there is
approx 7% unemployment in the country but the inflation rate have decreased. This report also
suggested that Romanian economy will face great challenges from the low cost economies such
as China. Globalisation has weakened small economies like Romanian economy and helped
bigger member states like UK in their business processes. Romanian SMEs are not prepared to
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withstand further competition from the companies of other countries. On the other hand it has
helped the companies of this country in increasing the mobility of products in the whole world.
Small companies can increase their cross border strategic partnership.
As an individual I have seen that companies are providing low wages to the workers as they can
outsource employees from Asian countries who are cheaper employees (Mignolo and Escobar,
eds., 2013). Romania is one of the most vulnerable countries of EU because of low product
economic goods and poorly skilled labour force. Unemployment rates are expected to be
increased in the next few years.
Technology and Globalisation
Globalisation has been boosted up by the advancement of technology. It is the effect of
technology that people are so much connected with each other. Now on one click people can
share information and their views to the person on the other part of the Globe. Here
technological changes do not only refers to any specific area but in every part of society, from
transportation to communication everywhere. Use of technology has changed the life style of
each individuals like me. Due to globalisation and technological changes society have adopted
mix of cultures. Societies are failing to save their own cultures.
Ecology and globalisation
Ecology and globalisation are inter related. Due to globalisation companies are adopting
several methods to compete with each other which is ultimately leading to degradation of nature.
Natural resources are under high pressure due to globalisation and its impact (Mutascu and
Fleischer, 2011). Smaller countries like Romania is having limited amount of resources which is
getting depleted out due to intense global competition. Due to adverse effects of globalisation on
nature, health standards of citizens have decreased.
CONCLUSION
Globalisation is a phenomenon that has made world a village where every one is
dependent on each other for their sustainable growth. Romania being a economically weak
country have found several advantages and disadvantage in the globalisation process. Before
entering into the EU the cited company was facing many problem regarding economic stability.
For individuals like me got more choice of products due to globalisation. Socio- economic,
political, legal and technological factors have been changed by the globalisation process any
change in these factors ultimately effects the global structures.
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REFERENCES
Books and Journals
Baylis, J., Owens, P. and Smith, S. eds., 2017. The globalization of world politics: An
introduction to international relations. Oxford University Press.
Carp, L. and Popa, D., 2013, March. The relationship between foreign direct investment, trade
and economic growth in Bulgaria and Romania under the impact of the globalization. In
Proceedings in Conference of Informatics and Management Sciences (No. 1).
Dima, I.C., Grabara, J. and Vladutescu, S., 2014. Comparative study on online education in
Romania and Poland in terms of current globalization. Polish Journal of Management
Studies. 10.
Gurgul, H. and Lach, Ł., 2014. Globalization and economic growth: Evidence from two decades
of transition in CEE. Economic Modelling. 36. pp. 99-107.
HARANGUS, D., 2012. The Competition in Romanian Banks in the Context of Globalization.
Bulletin of the University of Agricultural Sciences & Veterinary Medicine Cluj-Napoca.
Horticulture. 69(2).
Ionescu, A. and Dumitru, N.R., 2012. Multinational companies under the globalization context.
Romanian Economic and Business Review. 7(1). p. 86.
Mignolo, W.D. and Escobar, A. eds., 2013. Globalization and the decolonial option. Routledge.
Mutascu, M. and Fleischer, A.M., 2011. Economic growth and globalization in Romania. World
Applied Sciences Journal. 12(10). pp. 1691-1697.
Pieterse, J.N., 2015. Globalization and culture: Global mélange. Rowman & Littlefield.
Tuca, S., 2013. The Evolution of Economic Globalization during the Current Global Crisis. CES
Working Papers. 5(4). pp. 645-653.
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