The paper "The Positives and Negatives Associated with Globalisation" is an outstanding example of a business essay. The purpose of this essay is to discuss the positives and negatives associated with globalisation and to examine how the economic integration brought about by globalisation has affected the political, economic and social landscape. In order to achieve these objectives, the essay will start by providing a definition of the concept of globalisation and discussing how globalisation leads to global economic integration. This will be followed by an analysis of the merits and demerits of globalisation along with the impacts of globalised economic integration on the social, political and economic landscape of nations across the world. Definition of the Concept of Globalisation The term ‘ globalisation’ can be defined in various ways.
For instance, a text written by Soubbotina and Sheram (2000) for the World Bank has defined the concept as “ the growing interdependence of countries resulting from the increasing integration of trade, finance, people, and ideas in one global marketplace” (p. 66). Similarly, based on Wild and Wild (2013), globalisation can be defined as a trend towards greater economic, political, cultural, and technological interdependence among the economies and national institutions of the world.
Based on these two definitions, it can be seen that globalisation involves increased coming together and interaction of institutions and economies of different countries through trade, transfer of ideas and technology, and movement of people and finance among other matters. As Lawn (2013) puts it, globalisation involves the economic integration of the world, and integration is the act of bringing together separate but interrelated elements into a single whole. Therefore, from a business point of view, globalisation can be viewed as global economic integration or the process of bringing different elements of the world economy into one interconnected marketplace.
Cross-border investments and international trade are the main ingredients of global economic integration (Soubbotina & Sheram, 2000).
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