Globalization and the Impact on Economic Growth: A Comprehensive Study

This essay examines the multifaceted impact of globalization on economic growth, acknowledging both its advantages and disadvantages. It discusses the rise in global market opportunities, the role of financial globalization, and the effects on multinational enterprises. The essay also addresses concerns about the negative impacts of globalization, such as increased inequality and potential ecological damage. It highlights the importance of mutual trust and respect in fostering a healthy global economy. The analysis draws upon various sources to provide a comprehensive overview of the complex relationship between globalization and economic development. Desklib offers a platform to explore similar essays and study resources.

Running head: ECONOMICS
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Title page
Globalization and the impact of the economic growth

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Issues and judgements
There are both advantages as well as disadvantages of globalization. The issue is that
globalization have known to hamper the lives of many people specially in case of
underdeveloped countries
Thesis statement
Globalization might have brought a lot of positive effects for most of the countries in cases of
politics, culture and economy, it has also left some drawbacks on certain parts.
The context of the issue
The topic of the debate is whether globalization acts as a boon or bane for the country.
Globalization is the historical process which started when there was first movement of people
out of Africa in the other parts of the world. Although the tone of the debate had not really
changed over the years.
The globalization is the process at the economic level for denationalization of the markets.
Globalization have also helped the developed countries for bringing in greater access to the
technology of the country.
However, globalization will be having its negative impacts and challenges in the long run. It
is the process o9f intensification of economic, social, political and cultural relations across
the various international boundaries.
Main arguments

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1. There has been a huge rise in the global market opportunities due to globalization. It
has therefore known to affect the operations of the company. (Ferris & Wilder,
2006). The global crisis has known to affect the globalization in the modern period.
The global financial crisis is also known to affect social security and puts a barrier to
the international cooperation. Globalization known to have impact every aspect of the
modern world. Most of the economists agrees to the fact that globalization can
provide a net benefit to the economies around the world by making markets more
efficient in nature and increasing competition. Public also tends to assume that the
cost which is associated with globalization is known to outweigh the benefits. The
foreign direct investment also tends to increase in high rate than the growth of the
whole world. Which also known to boost the technology transfer and industrial
restructuring along with growth of the global companies. The increased competition
from the globalization have also helped in stimulating new technology development
with the growth of the foreign direct investment which will also help in improving
economic output by making processes more efficient.
2. Globalization have also led to the financial globalization for the progress of any
particular nation. There have been various effects of globalization on the school
education. The globalization has also known to pose various challenges for the
universities. The globalization has also led to efficient cross border product which is
known to support economic growth and prosperity. (Steger, 2013).
3. There have been various effects of globalization on the school education. The
globalization has also known to pose various challenges for the universities. The
globalization has also led to efficient cross border product which is known to support

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economic growth and prosperity. (Steger, 2013). Globalization have helped the rich
people but have make the poor section of the society much weaker in nature
Globalization will be providing worldwide market for various companies and the
consumers due to globalization will have access to products of various countries. The
rise in competition from globalization have also helped in stimulating the new
technological development with the growth of the foreign direct investment which is
known to stimulate the new technology department. Globalization also help in
enabling large companies for realizing the economies of scale which will be reducing
cost and prices that will also support economic growth. It is also known to lead to the
interdependence between the nations which can either cause regional or global
instabilities.
4. There had been changes in the multinational enterprises after the globalization. The
multinational companies known to have changed a lot as a result of globalization.
Globalization is also known to encourage homogeneity among many consumers.
Globalization is also known to affect the culture, values, religion and consumption.
Successful marketing strategies will also improve the product attributes (Jones, 2013).
Most of the multinational corporation had been doing injustice to the workers by
providing unfair working conditions. There is also presence of ecological damage and
mismanagement of resources (Esso & Sudweeks, 2001).
5. The globalization is the process at the economic level for denationalization of the
markets. Globalization have also helped the developed countries for bringing in
greater access to the technology of the country. Most of the economists agrees to the
fact that globalization can provide a net benefit to the economies around the world by
making markets more efficient in nature and increasing competition However,
globalization will be having its negative impacts and challenges in the long run.

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Globalization have also helped in raising the global economy when they will be
having mutual trust and respect for other’s opinion. Because of globalization there
will be more influx of information between two countries.

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