StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Globalisation of Trade - Literature review Example

Cite this document
Summary
From the paper "The Globalisation of Trade", immense changes were taken place in the world after the introduction of globalization and liberalization policies during the later periods of the twentieth century. Business and economic sectors seem to be the major beneficiaries of globalization…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
The Globalisation of Trade
Read Text Preview

Extract of sample "The Globalisation of Trade"

Download file to see previous pages

Starbuck was one American company that had coffee shops virtually in every corner of America before the introduction of globalization. Since their operations were saturated in America, they struggled a lot to find enough space in America for expansion. Globalization helped them to expand their operations to overseas countries. In short, globalization helped international or cross-cultural trade to increase a lot.

Globalization of trade brought many opportunities and challenges. Some people argue that international trade helped countries to attract more foreign direct investments so that their economy started growing rapidly. They cite India and China-like countries as examples to show how well a country can utilize globalization opportunities. In fact, China opposed the “global economic order, political order and the major global institutions such as the IMF and the World Bank before the reforms started in China” (Overholt, 2005, p.3). However, they quickly realized the possibilities of global trade and globalization.

 It should be noted that these two most heavily populated countries in the world have been struggling for growth before the introduction of globalization. Their huge population size was a curse or barrier in front of their struggle for growth. However, globalization helped these countries to convert this population barrier into a blessing. In other words, these countries are currently the providers of manpower for the international market in which manpower shortage is a big problem. 

“During 1997–2005, China’s average annual growth rate in real GDP was 8.9%. During the forecast period of 2005–2010, it was assumed that the PRC continued its historical growth trend of 8.9% per year” (Mai et al, 2010, p.5). Moreover, “the PRC’s exports increase by about 46%and imports by about 45% relative to their respective baseline levels in 2010”(Mai et al, 2010, p.7). According to Albert Keidel (2008), China’s economy will surpass that of the United States by 2035 and be twice its size by the midcentury (Keidel, 2008). Indian economy also showed similar trends during the last few decades as a result of globalization of trade. 

The globalization of trade has assured the place of multi-national. It has been suggested that the role of such firms is to generate wealth, create work and raise the standard of living in the countries in which they operate. However, critics of globalization suggest that multi-national companies often exploit physical resources and take advantage of labor in countries where legal requirements may be less stringent than in their own countries. This paper critically discusses this statement providing arguments for and against the globalization of trade, taking India and China as major examples.

Overview of economic growth in India and China

It is often said that global wealth is currently shifting from the less heavily populated American and European regions to the more heavily populated Asian region because of globalization. The above argument seems to be correct when one would consider the economic statuses of India and China before the introduction of globalization. The standard of living and per capita income of Indians and Chinese people have increased a lot in the past few decades. Moreover, unemployment problems in these countries were come down a lot in the recent past. It should be noted that international companies are looking towards India and China when they think about their expansion opportunities.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The globalisation of trade Literature review Example | Topics and Well Written Essays - 5000 words”, n.d.)
Retrieved from https://studentshare.org/business/1400101-the-globalisation-of-trade
(The Globalisation of Trade Literature Review Example | Topics and Well Written Essays - 5000 Words)
https://studentshare.org/business/1400101-the-globalisation-of-trade.
“The Globalisation of Trade Literature Review Example | Topics and Well Written Essays - 5000 Words”, n.d. https://studentshare.org/business/1400101-the-globalisation-of-trade.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Globalisation of Trade

Globalisation of Trade

globalisation of trade.... Arguments for globalisation of trade The process of trade globalisation has benefited economies across the globe to obtain uninterrupted supply of different goods and services and take advantages of improved overseas facilities.... Improvement in international relations As a result of globalisation of trade, the concept of global economy came into existence which in turn enhanced the growth of different segments of the international market....
10 Pages (2500 words) Literature review

Identify and select a contemporary management issue from current affairs

Under this perspective, inclusive aspects of globalisation would also embrace liberalisation, the deregulation of trade activities, the reduction of state control functions, expansion of foreign direct investments, and the coordination of capital markets (Higgott and Reich, 1998).... globalisation: Beneficial or Detrimental to the Global Economy?... Introduction With the advent of major developments in information technology, globalisation has become even more extensive in its reach and its impact....
8 Pages (2000 words) Essay

Intellectual Property Law

Intellectual property law Introduction Property is something which is owned by a person whereas intelligence is something which is inherited in a person.... So, “Intellectual property (IP) refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce” (What is Intellectual Property?...
8 Pages (2000 words) Research Paper

Workforce Diversity at IBM

The fact that IBM had already embraced the idea of workforce diversity as early as the 1950s is very important in considerations that The Globalisation of Trade had not begun.... globalisation, which was very fundamental in forcing organisations into embracing workplace diversity, only came much later in the 1980s and it is at this time that most international firms realised they had to diversify their workforce in order to ensure that they are globally competitive and that they can meet the challenges of a global market (Strachan, French and Burgess 4)....
4 Pages (1000 words) Essay

Nanocomposites in the Automotive Industry

The following case study "Nanocomposites in the Automotive Industry" is focused on the industry that experiences serious changes on the eve of a new technological revolution.... It is stated that while traditional markets are saturated new market opportunities open in Asia and developing countries....
7 Pages (1750 words) Case Study

Globalization and health Inequalities

To demonstrate knowledge of the history of the spread of infectious diseases and globalisation of trade and investments5.... Research shows that the globalisation process as it is defined by Lee (2000) and others, that globalisation are responsible for the accelerated free movement of people.... ESEARCH QUESTION: Does globalisation contribute to health inequality'AIM: To analyze and discuss, where, why and how the globalisation process affects or accelerates health inequalityOBJECTIVES:1....
11 Pages (2750 words) Essay

Strategies for Controlling Structures in Multinational Enterprises

This essay "Strategies for Controlling Structures in Multinational Enterprises" presents multinational enterprises (MNE) that could never be a walk in the park because this task involves key changes in a company's mission, core competencies, structure, processes, and culture.... ... ... ... Levi Strauss is another example of a company attempting to maximize the advantages of different structural configurations....
14 Pages (3500 words) Essay

Business and Climate Change

In the paper 'Business and Climate Change' the author analyses the challenge of responding to climate change in a way that will support business corporate strategy, which includes the business' corporate social responsibility.... The effects of climate change are disrupting business operations.... ...
10 Pages (2500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us