The march towards globalisation is inevitable

Running Head : EVIDENCE OF THE INEVITABILITY OF GLOBALIZATION

The March Towards Globalization

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The March Towards Globalization

Numerous disciplines have taken a view on the concept of globalization The term generally contemplates a delocalization of practice and the setting up of a central world view . Globalization contemplates the breaking down of barriers between different countries and regions in to effectively administer only a single international community The trend has been seen to take effect in culture

, education , health and most markedly in economy and business . The concept of globalization has many dimensions , ranging from interdependence of economic activities in different countries to flows of ideas across national bs . Wan Lu and Chen (2007 ) define economic globalization as the exchange of goods and services , and flows of foreign capital . It was contemplated that with the use of a country 's openness , as reflected by their trade practices or GDP ratio , and per capita Foreign Direct Investment (FDI the extent of globalization in a particular country could be assessed (Wan et al . 2007

Globalizing policies and debate took root in the 1990s . The two defining traits of globalization as posited then was the prominent role played by economic theory and the free market capitalism ideology in defining economic policies and development strategies as well as the policy of international institutions constituting an institutional framework for governance (Gualerzi 2007 . Gualerzi (2007 ) also took note of the impact of technology in the discussion of globalization however technology takes a backseat role in the debate with the two previously mentioned traits defining more the approval or rejection of globalization

Since the 1990s globalization debates have still not been resolved . In fact , more and more factors are being considered both for and against the principle with no clear view as to determinant of success of either It has been shown that the free market outcry first requires a level of local liberalization . Gualerzi defines liberalization as the removal of obstacles to the market , in particular trade barriers and government interference in financial and capital markets (2007 . It is contemplated that removing such hindrances would result in the attraction of capital inflows and the favorability of free trade . The former would positively affect productivity and employment while the latter would carry with it the inclination towards specialization in the production of low-cost production goods in domestic national economies (Gualerzi 2007 . In the contemplation of economics , a shift towards such an approach favoring specialized products would result in the free movement of factors and goods and greater efficiency in the global market

Kenichi Ohmae (1990 , outlined the process of change associated with the logic of global market by emphasizing the disadvantage of incurring high production costs of a wide range of products as opposed to production of low production cost specialized items . The problem is thus perceived to be that there are too few global products . Instead , global markets are represented in solitary countries , representing...