Essays on International Trends towards Globalisation Coursework

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The paper 'International Trends towards Globalisation" is a good example of business coursework.   This paper discusses international trends towards globalisation and deregulation of labour markets and their impact on developed and developing countries. Further, it explains what are the advantages of globalisation and deregulation of labour markets for employment relations in both developed and developing countries. International trends towards globalisation Globalisation has made world economies interdependent. International trade of goods and services has increased and there is a free flow of capital across borders. Globalisation results in the fast global spread of technology. With the market economic system, there is a growing importance of information flow in all activities like production, trade and services.

Globalisation has developed a division of labour in different enterprises and organisations of all countries to the level of their production chains. Globalisation was possible due to the use of advanced science and technology mostly because of the reduced cost of transportation and communication. (Anne O. Krueger, 2006) Globalisation has made the world like a global village. The concept of national boundaries and distance has become meaningless for economic activities and information exchange. The planned and centralized economic systems of the last century have now shifted to market economic systems.

The market economic systems in all the countries in the world have now integrated with each other. Multinational Companies have become carriers and catalysts of economic globalisation (WILLIAM I. ROBINSON AND JERRY HARRIS, 2000). The MNCs are undergoing worldwide expansion by allocating resources and organising production globally to maximize profits. Globalisation has also led to a substantial increase in income levels on account of the advancement in the fields of science and technology.

Global changes in the industrial sector such as restructuring, readjustment and upgrading are taking place worldwide. Statistics show that there were 44,000 MNCs in the world in 1996, having 280,000 subsidiaries and branches overseas. In 1997, one-third of the world’ s total trade volume came only from the top 100 MNCs. The MNCs had a major share (over 80%) of the balance of foreign direct investment. There were about 70% of international technology transfers undertaken by the MNCs. (Gao Shangquan, 2000). Developed countries have gradually started entering the era of the knowledge economy recently.

They have started shifting many labour-intensive industries that do not have strong international competitiveness to the developing countries. This has increased competition among enterprises from different countries in the international market. (Actrav. itcilo. org) In order to stay in competition in the international market, all domestic, as well as international companies, have resorted to mergers and acquisitions. (Glyn, A. and Sutcliff, B. 1992) This has resulted in the tremendous restructuring of the industrial sector and trade. Statistics show that developed countries’ total volume of exports in 1996 accounted for 82% of the total international trade and the foreign direct investments by developed countries that are among the major ones accounted for 85% of the entire value of FDIs in the world.

(Gao Shangquan, 2000). Impact of globalisation in developed and developing countries Globalisation has had a positive impact on both developed and developing countries. The world has experienced an increase in the integration of global economic activities, competitiveness in the international markets is on the rise, economic activities have increased and relocated, and there were structural changes in the world economies.

There have been rapid advancements and innovations in science and technology, communication, networking, and information exchange. The countries are shifting to knowledge-based society and networking and increasing social capital. Labour markets have experienced reasonable flexibility and there is an increase in labour migration from one country to other (Esping-Andersen, Gø sta and Regini, Marino (eds), 2009). There is an enormous rise in typical and non-standard employment types and changes in working conditions and work content. There is an increase in acquiring more job-skills and multitasking has increased. Last but not the least, the need for lifelong learning has come into play strongly.

(Eddy Lee, Marco Vivarelli, 2006)

References

Anne O. Krueger, 2006, Economies for the 21st Century, At the 10TH St. Petersburg International Economic Forum, St. Petersburg, Russia

Book - The Major Text and Essential Reading by Bamber, G., Lansbury, R. and Wailes, N. (eds) 2004, International and Comparative Employment Relations: Globalisation and the developed Market Economies, 4th edition, St Leonards, Allen & Unwin

Book - Why Deregulate Labour Markets? Edited by Esping-Andersen, Gøsta and Regini, Marino

Retrieved Oct 14, 2009 from

http://www.oxfordscholarship.com/oso/public/content/politicalscience/9780199240524/toc.html

Economic Globalization: Trends, Risks and Risk Prevention, Gao Shangquan, 2000.

Retrieved Oct 14, 2009 from

http://www.un.org/esa/policy/devplan/cdpbackgroundpapers/bp2000_1shangquan.pdf

Eddy Lee, Marco Vivarelli, 2006, The Social Impact of Globalization

in the Developing Countries, IZA Discussion Paper No. 1925

Definition of employee relations?

Retrieved Oct 14, 2009 from

http://wiki.answers.com/Q/Definition_of_employee_relations

Impact of globalisation on industrial relations in the EU and other major economies, by Kaia Philips and Raul Eamets

Retrieved Oct 14, 2009 from

http://www.eurofound.europa.eu/pubdocs/2007/85/en/1/ef0785en.pdf

Labour Market Trends and Globalization's Impact on Them

Retrieved Oct 14, 2009 from

http://actrav.itcilo.org/actrav-english/telearn/global/ilo/seura/mains.htm

Glyn, A. and Sutcliff, B. 1992. "Global But Leaderless? The New Capitalist Order," in Ralph Miliband and Leo Panitch (eds.), New World Order: The Socialist Register. London: Merlin Press.

Reddy, S. (2004), Globalization, Labour Markets and Social Outcomes in Developing

Countries, in Lee, E. and M. Vivarelli (eds.), Understanding Globalization, Employment

and Poverty Reduction, Palgrave Macmillan, New York, pp. 309-26..

UNCTAD (2008) World Investment Report 2008: Transnational Corporations and the Infrastructure Challenge (New York and Geneva: United Nations), p. 105.

William Robinson and Jerry Harris, 2000, THE JOURNAL SCIENCE AND SOCIETY, VOL. 64, NO. 1, SPRING 2000, PP. 11-54

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