Globalization Literature

Globalization LiteratureAHONARUOGHO YEWANDEGlobalization is an undeniable phenomenon, which is rather hard to put into words and as a depart can be explained in various ways. Globalization which encompasses variant aspects of the modern world, bringing nations of the world closer into a single society through culture, economical transactions, politics, technology and affectionate interactions is making an ever changing world. GPF (online) n.dAccording to Beck (2000) online Globalization regardless of how it is individu every(prenominal)y interpreted gives the implication of the deterioration of a distinguishs sovereign poewer and the structures that transport the territory.The world-wide interconnectedness among nation-states becomes supplemented by globalisation as a process in which basic accessible arrangements (like power, culture, markets, politics, rights, values, norms, ideology, identity, citizenship, solidarity) become disembedded from their spatial context (mainly the nation-state) receivable to the acceleration, massification, flexibilisation, airing and expansion of transnational flows of people, products, finance, images and information this states that due to the attachd flexibility and ease of mobility of many factors in an economy that amicable arrangements cast become disembedded from their nation states, on the whole of which is known as globalisation. beerkens (2004) onlineThe characteristics of the globalisation trend include the internationalizing of production, the new international division of labor, new migratory drifts from South to North, the new competitive environment that generates these processes, and the internationalizing of the state making states into agencies of the globalizing world. This quote is informing about the concepts and characteristics that make up globalization focusing on the internationalization of many aspects of economies. Cox (1994) onlineNations tend to come unitedly in form of global lega l jointures, these unions atomic number 18 economic to some extent, and such(prenominal) exist within patronage blocs. Trade bloc is an capital of New Hampshire which is formed between states, regions or countries in order to reduce the trade barriers which make trading inconvenient, amongst the regions involved. A well know example of this form is NAFTA, which is a trade agreement between the United States, Canada, and Mexico. Opponents to trade blocs view such agreements be harmful to free trade on a global level Investorwords (online) n.d. Trade blocs have rules that guide their interaction with nations within the economic union as well as those that are not members of the union. Manish (2012) onlineTrade blocs are of different varieties, requiring different levels of consignment and arrangements from the members of the union. To be of the view that globalization is purely an economic union would be false and incorrect as just trade blocs array globalization as six differen t forms of unions. Manish (2012) onlineTrade blocs have certain objectives goal which they aim to achieve, one of which is to buy food the restrictions to trade among the members of the union, there by promoting free trade and double-quick movement of resources between members. BMS (2013) onlineTrade blocs aim to improve the social, economical, cultural and political relationship between its members through the integration of economies, social programs could encourage this promoting peace in the region. BMS (2013) onlineTrade blocs have the objective of achieving an add in economic return amongst its members. As a result in the reduction in trade barriers, it puts firms in a position to produce at lower prices, which would in turn increase demand and lead to a large scale of production. This can result in economic growth and attract investment. BMS (2013) onlineA Preferential Trade Areas is also a type of trade bloc, interconnecting the nations of the world on an economic level , this is the to the lowest degree committed to trade barrier reductions. In this union members lower but do not eliminate trade barriers amongst themselves and no set arrangement is hold about their interactions with non- members. Manish (2012) onlineFree Trade Area is the next stage after, the Preferential Trade areas, all trade barriers are eliminated for members when relating with each other, so all the members are able to import and export goods and services amongst themselves. An example is the North American free trade agreement of 1994 between the Canadians, Mexicans and the US these members establish independent trade policies when relating with non members. Manish (2012) online another free trade area example is the European Free Trade Area. Shahid (2010) onlineCustoms Union is the third trade bloc. The member states remove inner(a) trade barriers as well as also agree to implement the same set of jet policies when dealing with non member states. Customs union of Russi a, Belarus and Kazakhstan, which was initially created in 2010, is a custom union other custom unions include European Union Custom Council, East African Community. Manish (2012) onlineThe Common Market is a trade union where members internal trade barriers are removed, third estate policies/ barriers are implemented for dealing with trade involving outside parties and free movement of resources such as labor exist. Examples of common market include Mercosur (Southern Cone Market), East African Common Market, European Economic Area and western United States African Common market. Manish (2012) onlineAn economic union is one of the trade blocs that exist between nations that further make the nations of the world more integrated and connected. It requires members to remove internal barriers and agree to use common barriers for externally, allowing free movement of resources and adopt a unified set of economic policies. The European Union is an example of such with one currency they have adopted one monetary policy. Manish (2012) onlineAn economic union such as the European Union speeds up the process of globalization, increase trade amongst the members of the EU as well as increased labor and capital mobility such as migration of Poland citizens to the United Kingdom and Ireland. The EU has expanded its field of operation of influence to over 20 countries, making for over 356 million in population. Pettinger (2008) online Other economic unions include CEMC (economic and monetary community of central America), OECS (organization of eastern Caribbean states), UEMAO (west African economic and monetary union).shahid (2010) onlineIn addition to the integration of the nations belonging to the trade blocs it is also seen that globalization is further aided by trade blocs which make negotiations easier on a global level. An case relating to trading negotiations is, the European Union bargains as one singular bloc making it easier and faster to push through practices which increase free trade. Pettinger (2008) onlineFull Integration is the final stage, coming after economic union. The members become fully integrated an example is the United States. Manish (2012) onlineWhen viewing the definition, principles and aims of both globalization and trade blocs, they complement each other, both resulting in interdependence and increase in trade Wang (2010) online. As a result it is easy to assume that globalization is purely an economic union formed by trade blocs. However, it should be noted that trade blocs can be seen as a hindrance to globalization because it rears regionalization and not global elimination of trade barriers, causing conflicting parties to fight for regional interest thereby building trade barriers for the rest of the world and balking the importation of goods from other countries Wang (2010) online.This contradicts with globalizations purpose of one world and interlinking of all nations and free trade amongst all Wang (2010) onl ine. For example, the EUs CAP placed high tariffs on importation of food and the dumping of surplus food items onto world markets. Pettinger (2008) onlineTrade blocs especially at its most integrated economic level when a common currency is established and a common fiscal policy within the union exists among the members- economic union- it leads to reduction of the power and sovereignty of a national judicature over its own territory. Although the states can take independent decisions to influence the total demand, income allocation and the level of production of their economies through the use of simple fiscal policies unless common fiscal policy is implemented in the economic union. As a result monetary and fiscal policy integration is the basis for an economic union and the application deepens the integration of its members, making it a single economic union and removes all kinds of economic borders. Hashimov (2013) onlineTrade blocs provide a larger market for exporting of goo ds, this creates a forum for the global products which can be linked between nations of the world, and this creates the possibility for more revenue for nation states. Admin (2012) onlineTrade blocs due to the integration of markets leads to increase in competition and productivity on the part of the nations belonging to the same trade bloc, ensuring to produce quality goods while the consumers had increased choice and lower prices due to the size of the market and number of competitors. Admin (2012) onlineTrade blocs make for a higher and increased rate of investment due to the larger market purchasable as market is expanded. Admin (2012) onlineTrade blocs however have the negative effect, for example they undermine the efforts of WTO (world trade organization) because there is a possibility that the whole world would become regionalized and that would prevent trade liberations due to the rules and norms associated with trade blocs. Trade blocs would deter the WTO goals and underm ine international trade laws. Admin (2012) onlineTrade blocs have the negative effect to globalization of creating unfriendly political tension and hindering diplomatic relations between members of a trade bloc and non member through discriminatory policies. Admin (2012) onlineOther factors unrelated to the trade blocs are important and significant to globalization. The main contributing factors to globalization could be argued but these are some factors that are contributingImprovement in technology which enable global transport and communication to be carried out much easier, which also helps reduce the barriers of distance. Pettinger (2008) online the level of improvement in technology of transport and communications has conduct to a reduction in the prices for transferring goods, service and factors of production as well as making it easier and cheaper to communicate economically useful knowlight-emitting diodege and technology. Mussa(2000) online Information technology is a ma in contributor in the process of globalization in form of a catalyst, it increases the accessibility of information and economic potential. Enabling for efficiency in the economies of nations as political and commercial information can be transferred easily and at a fast rate. Information technology encourages the creative use of resources to promote and advertise new products and ideas across borders and cultures regardless of its geographical location. Technology is now the leading factor of the modern world creating employment, new ideas, and networking sites which enables global connection and communication.globalisation101 (n.d) onlineThe growth of multinational companies. Pettinger (2008) onlineGlobalization is also a political union of nations around the world, there are military-political blocs existing which is a union among states that have agreed to unite, uphold and have unified actions and responses to address common political, economic and military tasks. Encyclopedia (1979) online an example of a political union is NATO.G. Bertucci and A. Alberti , wrote an article Globalization andThe Role of the State Challenges and Perspectives, in which it was stressed that economic globalization is in actuality as a result of political decisions made my nation. Stating that the expansion of international trade as well as finance and investment Transactions do not radically influence the role of nations while the high level of collaboration and joint active show states exercising their sovereign laterality over their territories. Thus the authors are of the view that collaborative action instead of weakening their authority over their state reinforces their authority by creating a more secure global environment and greater possibility for exchanges in different areas. Hashimov (2013) onlineGlobalization is also an economic union, it impacts employment, working conditions, income and social protection. Beyond the world of work, the social dimension encompass es security, culture and identity, inclusion or exclusion and the cohesiveness of families and communities. Todayszaman (2010) onlineIn conclusion, globalization is an economic union of nations after all globalization is generally referred to as economic globalization as it brings nations of the world together and forms a more integrated and interdependent world. Economic union has led to increased flow of information and ideas, and had led to a change in the way nations interact amongst themselves. However it should be noted that economic unions can be seen as a hindrance to globalization itself which contradicts the view that globalization is an economic union and in addition globalization is also a political and social phenomenon not solely economical. BibliographyElectronic devicesAdmin (2012) online, advantages and disadvantages of trading blocs, visible(prenominal) at http//wisebrain.info/explain-the-advantages-and-disadvantages-of-joining-a-trading-bloc-international/, acces sed on the 3rd of FebruaryBeck (2000) online, what globalization represents, available at http//www.beerkens.info/files/globalisation.pdf, accessed on the maiden of FebruaryBeerkens (2004) online, How globalization is modify the world, available at http//www.beerkens.info/files/globalisation.pdf , accessed on the 1st of FebruaryBMS (2013) online, objectives of trade blocs, available at http//www.bms.co.in/objectives-of-trading-blocs/, accessed on the 3rd of FebruaryCox (1994) online, understanding the chaacterisyics of globalization, available at http//www.beerkens.info/files/globalisation.pdf, accessed on the 1st of FebruaryEncyclopedia (1979) online, definition of political blocs, available at http//encyclopedia2.thefreedictionary.com/Military+Bloc, accessed on the 3rd of FebruaryGPF (online) n.d, globalization definition, available at http//www.globalpolicy.org/globalization/defining-globalization.html, accessed on the 2nd of FebruaryHashimov (2013) online, economic globalizati on and the role of nation-state in economy, available at http//www.academia.edu/3721679/ECONOMIC_GLOBALIZATION_AND_THE_ROLE_OF_NATION-STATE_IN_ECONOMY_THE_CASE_OF_EU, accessed on the 2nd of FebruaryManish (2012) online, compositions of trade blocs, available at http//financetrain.com/trading-blocs-common-markets-and-economic-unions/, accessed on the 3rd of FebruaryMussa(2000) online, driving factors of economic integration, available at http//www.imf.org/external/np/speeches/2000/082500.htm, accessed on the 2nd of FebruaryPettinger (2008) online, The significance of economic blocs to globalization, available at http//www.economicshelp.org/blog/1019/economics/trading-blocks-and-globalisation/, accessed on the 2nd of Februaryshahid (2010) online, trading blocs and globalization, available at http//www.slideshare.net/Abdullah2012/globalization-trading-blocks, accessed on 3rd of FebruaryWang (2010) online, relationship between regional trading blocs and globalization, available at http/ /www.ccsenet.org/journal/index.php/ijef/article/viewFile/4955/4119, accessed on the 2nd of FebruaryTodayszaman (2010) online, social and cultural impact of globalization, available at http//www.todayszaman.com/columnists/dogu-ergil_204938-social-and-cultural-impacts-of-globalization.html, accessed on the 3rd of February1