The paper "Definition, Benefits, and Downsides of Globalization" is a perfect example of a business assignment. The term Globalization would mean the process of forming global institutions. These types of institutions would be considering the world as a single entity and it would be in stark contrast to regional, local and national levels. There have been trends that have been readily available when we look at global capitalism, trends in consumer tastes, transnational migration, and the online communication that has pointed towards globalization. There has been a section of people who have been supporting globalization and there has been a section of people who have been opposing globalization.
There have been considerable viewpoints about globalization and that has been the dilemma when it comes to defining globalization. There have been many viewpoints that have said globalization is the child of both technology and power. The concept of globalization has been that human societies have been built into a single system. Globalization could be said as a general process of integrating families into villages, villages into a tribe, tribes into peoples, peoples into cities, cities into states, states into empires and the main key could be termed as development by globalization.
There has been a focus on globalization in the form of economic finance, capital flows, the decentralization that has been happening in the fields of production and world markets. Economic globalization has led to the concept of a borderless world and that has been seen as bridging the gap between the international economy and the local economy. Economic globalization has been seen as flourishing from the year 1990s and Western European integration was seen as the first step in creating economic globalization.
The Uruguay round in the year 1990s saw the development of a borderless economy as the GATT and WTO came into existence. The primary aim of the Uruguay round has been to reduce the trade barriers between the developed and developing countries and ways to get over the safeguarding, antidumping restrictions and anti export things.
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