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The term globalization is frequently mentioned in the economic and financial literature. Basically, globalization is the development, integration, accelerated expansion and operation of world markets (goods and services, financial, labor, etc.), which penetrates the different barriers between countries, based in: a) financial flows, b) international trade, c) establishment of transnational corporations and global financial groups in several nations, d) labor competition, e) technology that allows global markets to operate (telecommunications, internet, electronic payments, transportation to any part of the world, etc.), and f) International Institutions (the World Bank, the International Monetary Fund, the World Trade Organization, the United Nations, etc.). Although, it can´t be proved that globalization is responsible for certain negative effects (the economic stagnation and poverty of some countries), various economic researches have concluded that there are regions and nations (mainly, poor countries in Africa, Eastern Europe and America), which due to their structural conditions, institutional failures and inability to take advantage of their resources and to develop their internal markets, haven´t been able to adapt to the conditions of the international environment, nor being competitive.
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Title Understanding Globalization, An Irreversible Phenomenon
The term globalization is frequently mentioned in the economic and financial literature. Basically, globalization is the development, integration, accelerated expansion and operation of world markets (goods and services, financial, labor, etc.), which penetrates the different barriers between countries, based in: a) financial flows, b) international trade, c) establishment of transnational corporations and global financial groups in several nations, d) labor competition, e) technology that allows global markets to operate (telecommunications, internet, electronic payments, transportation to any part of the world, etc.), and f) International Institutions (the World Bank, the International Monetary Fund, the World Trade Organization, the United Nations, etc.). Although, it can´t be proved that globalization is responsible for certain negative effects (the economic stagnation and poverty of some countries), various economic researches have concluded that there are regions and nations (mainly, poor countries in Africa, Eastern Europe and America), which due to their structural conditions, institutional failures and inability to take advantage of their resources and to develop their internal markets, haven´t been able to adapt to the conditions of the international environment, nor being competitive.
Work type Narrative, Essay
Tags globalization, international trade, world, competitive, economy
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Registry info in Safe Creative
Identifier 1909011815087
Entry date Sep 1, 2019, 3:19 PM UTC
License Creative Commons Attribution-ShareAlike 4.0
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Author. Holder Rolando José Olivo Mata. Date Sep 1, 2019.
Information available at https://www.safecreative.org/work/1909011815087-understanding-globalization-an-irreversible-phenomenon
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Registration: 1909011815087
