Marcus Leary
2/14/2012
MIS
The Levin
Institute - The State University of New York
The article talks about how
globalization has benefitted modern technology and commerce. It helps in ways
like getting products from point A to point B and communicate with other
countries. The aspect of globalization has been around for thousands of years. One
common part of globalization that happened in the early ages was the Silk Road
during the middle ages. The Silk Road connected the Middle East with most of Asia.
For centuries, people and corporations have invested their money into different
companies that are in different countries. Since there have been technological
and policy developments that have happened over the past few decades, it has
increased the amount of cross-border trade, investment and migration that is so
big that some observers believe that the world is entering a new phase of
economic development. Since the 1950’s, the volume of world trade had increased
twenty times. From 1997 to 1999, foreign investment had increased from 468
billion to 827 billion. One author by the name of Thomas Friedman had said
about the globalization of today is “farther, faster, cheaper and deeper.” The globalization
that is in use now is driven by policies that have both domestically and internationally
opened economies. Ever since the Second World War and especially over the past
2 decades, many governments have adopted a free-market economic system. This has
vastly increased their productive capabilities and making new opportunities for
international trade and investment. A defining feature of globalization is
international industrial and financial business structure. The other big driver
of globalization is technology. The biggest part of that is information
technology, which has dramatically changed the economic life of people. With
these information technologies, the economic players, consumers, investors and
businesses, they now have valuable new tools that identify and pursue economic opportunities.
Globalization is also a controversial topic. The people who are
for globalization believe that it will help poor countries and upgrade their
standard of living. People against globalization feel that unfettered
international free market will help multinational corporations at the expense
of common people. Resistance to globalization has taken shape on both a popular
level and a government level. To find the right balance of globalization,
people need to understand how it works and how it’s policies also work.
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