The paper 'The History of Globalization' is a great example of a business case study. Globalization defines the broadening of local and nationalistic perspectives to a wider outlook of an interdependent and interconnected world. An interconnected world refers to a globe where cultures and economies are not limited to national frontiers. Globalization has been fostered to a large extent by advancements in telecommunication, transportation, and the internet. The history of globalization is far-fetched, having emerged in the 1980s. The key constituents of globalization include disseminating knowledge, movement, and migration of people, climate change, trade, and investment, to mention but a few.
Banking is one aspect that one has to look at to understand globalization; from any part of the world, it is possible to transact conveniently. Globalization, like all other emerging trends, has its merits and demerits. Some nations will benefit, and others will suffer from it. In light of these, the following study paper will highlight globalization's pros and cons in a developing country by conducting a SWOT analysis of globalization. StrengthsDeveloping nations are always in dire need of development socially and economically, wherein globalization can provide both.
Economic growth, therefore, suffices as one of the strengths that globalization provides a developing nation. First, it provides the nations with a comparative advantage in manufacturing or producing certain commodities (Martin 2003, p. 4). Comparative advantage means that every nation has an opportunity to present what it does best and gain from it. Globalization means that a nation has access to the international market, and as such, they can take advantage of this strength. For instance, if a country can produce surplus food, it gains access to an international market where it can easily trade and improve and develop its economic status. After joining the international community, a developing country is exposed to better chances of trading and increased competition.
Unlike when a country trades locally or nationally, globalization demands that the country advance its competition.
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