Question and answer
How has globalization affected the work environment, personal relationships, and economy?
The effects of Globalization are manifold, affecting various aspects of the world economy to bring about overall financial betterment. [ The effects of Globalization exert intense influence on the financial condition as well as the industrial sector of a particular nation. Globalization gives birth to markets based on industrial productions across the world. This in turn, widens the access to
a diverse variety of foreign commodities for consumption of the customers, owing to the marketing strategies undertaken by different corporations. In the world economic arena, Globalization facilitates the formation of a common worldwide market, on the basis of the liberal exchange of both cash and kinds. As far as Political Globalization is concerned, it helps in the formation of a world government to normalize the existing interactions among countries. It also ensures the rights emerging out of Economic and Social Globalizations. Promotion of liberal trading activities is perhaps the greatest contribution of Globalization, acting as a boon to the world economy. Following are the advantages enjoyed by countries engaged in mutual free trades: Considerable reduction in the cost of transportation, especially with the development of containerization with respect to overseas ocean shipments Decrease or abolition of control over capital and the capital market Formation of free zones for carrying out commercial activities, against payment of little or no tariffs at all Decrease, abolition or synchronization of subsidies in domestic trades Decrease or abolition of every kind of tariffsHowever, the concept of free trade emerging from Globalization suffers from limitations as well: Restrictions imposed on the supernatural identification of intellectual properties. This means that the patents granted by a particular nation will by recognized in another country. Synchronization of intellectual asset laws across most states are subject to additional restrictions. ]
Expert answered|Greenpepper|Points 2868|
Question
Asked 6/12/2011 6:52:20 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
21,557,727 questions answered
Popular Conversations
Financial statements should be prepared before any adjustments are ...
Weegy: Financial statements should be prepared before any adjustments are made. False. User: The credit side of an ...
7/4/2015 3:44:09 AM| 3 Answers
Write the equivalent fraction and percent for 0.28. User: Write the ...
Weegy: What is the ratio? User: write the fraction 5/7 as a percent
7/5/2015 3:50:39 PM| 3 Answers
A chart of accounts does NOT include (Points : 1) assets. ...
Weegy: A chart of accounts does NOT include NAMES OF CUSTOMERS. User: Source documents provide objective, ...
7/4/2015 8:48:25 PM| 2 Answers
The cost of goods sold divided by the average inventory equals the ...
Weegy: Cost of merchandise sold equals beginning inventory : Plus net purchases less ending inventory. User: ...
7/5/2015 3:12:36 PM| 2 Answers
Weegy Stuff
S
1
L
P
1
1
Points 135 [Total 1541]| Ratings 1| Comments 125| Invitations 0|Offline
S
1
Points 128 [Total 639]| Ratings 0| Comments 128| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
P
Points 49 [Total 9578]| Ratings 0| Comments 49| Invitations 0|Offline
S
Points 31 [Total 31]| Ratings 1| Comments 21| Invitations 0|Offline
S
1
L
L
Points 24 [Total 8404]| Ratings 0| Comments 24| Invitations 0|Offline
S
R
Points 8 [Total 210]| Ratings 0| Comments 8| Invitations 0|Offline
S
L
P
P
Points 4 [Total 3563]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 4 [Total 4]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 1 [Total 1]| Ratings 0| Comments 1| Invitations 0|Offline
S
Points 1 [Total 44]| Ratings 0| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.