Globalisation
Globalisation means integration of economies by eliminating qualitative and quantitative barriers. It will convert the world in to a global village. It facilitates the movements of goods, services, capital, factors, information and ideas between countries.
It is referred as Neo colonialism, because 17 th and 18th centuries the Europeans conquered Asian and African countries and made it as a colony for getting the raw materials and market for selling their products. Now the western countries are deciding our taste, preference etc through their products. The speed of globalisation has accelerated by the formation of trading blocs and WTO in 1995 by replacing GAAT. It brings advantages like higher economic growth, standard of living, job opportunities, advanced technology, efficient utilisation of world resources. Moreover it helps the people to access goods and services at a cheaper price. It also brought democratic ideals and new production techniques to developing countries. It reduces the distance between countries through the development of information and communication technology and transportation. It increases world out put and the efficient of producers through the cut throat competition.
However globalisation create some negative impacts up on the economy and society. It is exploiting natural and human resources of developing countries. It destroys our environment by increasing amount of pollution.It also importing diseases like H1N1, Swin Flu etc.More over the economic or political instability in other country will automatically affect the other countries. Under the globalisation the gainers are the developed countries and losers are the developed countries. It also create some monopolist in the world like Micro soft.
In my opinion, it has both advantages and disadvantages , so the effects of globalization depends up on how the economies are exploiting this concept to the benefit of their country. The country should able to forecast its impact in an economy and formulate the policies according to economic situation of the country. So the country should try to minimize the negative impacts and maximize the benefits.
Globalisation means integration of economies by eliminating qualitative and quantitative barriers. It will convert the world in to a global village. It facilitates the movements of goods, services, capital, factors, information and ideas between countries.
It is referred as Neo colonialism, because 17 th and 18th centuries the Europeans conquered Asian and African countries and made it as a colony for getting the raw materials and market for selling their products. Now the western countries are deciding our taste, preference etc through their products. The speed of globalisation has accelerated by the formation of trading blocs and WTO in 1995 by replacing GAAT. It brings advantages like higher economic growth, standard of living, job opportunities, advanced technology, efficient utilisation of world resources. Moreover it helps the people to access goods and services at a cheaper price. It also brought democratic ideals and new production techniques to developing countries. It reduces the distance between countries through the development of information and communication technology and transportation. It increases world out put and the efficient of producers through the cut throat competition.
However globalisation create some negative impacts up on the economy and society. It is exploiting natural and human resources of developing countries. It destroys our environment by increasing amount of pollution.It also importing diseases like H1N1, Swin Flu etc.More over the economic or political instability in other country will automatically affect the other countries. Under the globalisation the gainers are the developed countries and losers are the developed countries. It also create some monopolist in the world like Micro soft.
In my opinion, it has both advantages and disadvantages , so the effects of globalization depends up on how the economies are exploiting this concept to the benefit of their country. The country should able to forecast its impact in an economy and formulate the policies according to economic situation of the country. So the country should try to minimize the negative impacts and maximize the benefits.
it is a very interesting article.
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