Globalization: Impact on Trade - HI5016, Holmes Institute, 2019

This report provides an overview of globalization, defining it as a process of integration and interaction among governments, companies, and people worldwide. It identifies regions and countries significantly affected by globalization, such as those in the Caribbean and Latin America, and notes the uneven distribution of its effects, with some African and Asian countries experiencing marginalization. The report discusses the positive aspects of globalization, including resource pooling, reduced labor exploitation, and the elimination of tax havens, while also addressing negative aspects like offshoring, wealth inequality, and terrorism. It concludes that globalization's advantages outweigh its disadvantages but emphasizes the importance of addressing its shortcomings to ensure equitable benefits for both developed and developing nations.

GLOBALIZATION
Name
Affiliation

Introduction
 Globalization is the process of integration
and interaction among government,
companies and people across the globe
(Benería, Berik, and Floro, 2015).
 Communication and transportation
technology development has enhanced
globalization.
 Globalization act as economic process of
integration and interaction linked with
cultural and social aspects.

Countries affected by globalization
 Caribbean and Latin America and among
the countries highly affected by the by
globalization (Beck, 2018).
 It has caused a high rate growth in trade,
which has greatly impacted the economy.
 European countries have also been able
to set up classic industries of world class.
 These industries have played a role in
improving the standard of living.

Countries affected by
globalization
 However, there are some countries where
the effect of globalization has not been
felt (Agnew, 2017).
 This include most of African countries and
some in Asia.
 There have been cases of marginalization
and inequalities in these countries
 There are some measures being enacted
to ensure the effect of globalization is
exercised effectively.

Positive cases of globalization
 Allowing countries to pull their resources
together
 Globalization reduces issues of labor
exploitation
 Globalization reduces issues of labor
exploitation (Boyden, 2015).
 Globalization eliminated the tax haven
for business and wealthy individuals

Positive advantages of
Globalization
 Globalization helps the third world to
progress faster
 Globalization reduces the challenges of
currently manipulation
 Globalization encourages free trade

Negative cases of globalization
 Encouraging more offshoring instead of
less
 More wealth individual end up benefiting
more than poor
 Reducing the social safety net programs
 Globalization does not prevent resource
consumption (Baylis, Smith, and Owens,
2017).

Negative cases of globalization
 Terrorism
 Job Insecurity
 Price Instability
 Price Instability
 Globalization can ruin surrounding
 Globalization can shambles local
economies

Conclusions
 It is apparent globalization has both
advantages and disadvantages
 However, the advantages outweighs
disadvantages.
 It is important to look for look for solution
to its short coming to avoid possible loss in
future.
 Besides, efforts should be made to ensure
positive effect of globalization is felt both
in developing and developed world

References
 Agnew, J., 2017. Globalization and sovereignty: Beyond the territorial trap.
Rowman & Littlefield.
 Baylis, J., Smith, S. and Owens, P. eds., 2017. The globalization of world
politics: An introduction to international relations. Oxford University
Press.
 Beck, U., 2018. What is globalization?. John Wiley & Sons.
 Benería, L., Berik, G. and Floro, M., 2015. Gender, development and
globalization: Economics as if all people mattered. Routledge.
 Bourguignon, F., 2017. The globalization of inequality. Princeton University
Press.
 Boyden, J., 2015. Childhood and the policy makers: A comparative
perspective on the globalization of childhood. In Constructing and
reconstructing childhood (pp. 167-201). Routledge.
 Ritzer, G. and Dean, P., 2015. Globalization: A basic text. John Wiley & Sons.
 Rodrik, D., 2018. Populism and the Economics of Globalization. Journal of
International Business Policy, pp.1-22.
 Smith, K.E.I., 2018. What Is Globalization?. In Sociology of Globalization (pp.
3-10). Routledge.
 Steger, M.B., 2017. Globalization: A very short introduction(Vol. 86). Oxford
University Press.