Globalization
Topic: Globalization
Title: Living in a Flat World
Post World War II, the world has re-established itself towards a distinct place, resulting in a deflation of barriers between continents. Since the birth of the technological era, different countries have learned and grown accustomed to various economy, cultures and ideas with much help from the development of modern mechanics such as the internet. Likewise, with the rapid growth of development, communication and transportation, many are now able to incorporate and administer towards this driving force known as globalization. A comment from Robert Reich, former U.S. Labor Secretary extracted from the article Globalization and the Developing countries, quoted-:
“We live through a transformation that will rearrange the politics and economics of the coming century. There will be no national products or technologies, no national corporations, no national industries. There will no longer be national economies; at least we have come to understand that concept. All that will remain rooted within national borders are the people who comprise a nation.”
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Globalization plays an enormous role in the contemporary world. Humans are now able to interact, work, or trade ideas, goods and services with anyone across the globe and at any hour of the day. Oxford dictionary defines globalization as an extension to other or all parts of the globe, where else to economists, globalization is the emergence of a global market and the celebration of diversity (Khan 2003). This phenomenon has emerged to be the driving factor that allows us to experience other cultures and improve our economy. As an example, because of the considerably high rate of import and export, we now have varieties of goods and services to spend our income; to be able to buy a Honda (Japanese manufactured), fancy dinner...
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