With all of the above mentioned negative effects of globalization, it leads us to the conclusion that if globalization had a negative impact on civilizations and countries before, causing them to collapse completely, this event is bound to happen again in the future. The question is just when.
Globalization. Globalization is a term frequently used to help developing countries to move to a global economy by raising the flow of trade and capital. While globalization grasp a complex set of dynamics that bring opportunities for growth; it also compromise significant threats.
Globalization in simple words means go global or international. It is also an interaction between a country with other country in developing their global economy. Based on businessdictionary.com globalization is the worldwide movement integration. The word of integration does not refer to business only; it also involved integration of the technology, cultures, political, and economics.
Economic Aspects of Globalization 17 Shultz, ex-minister of finance Simon and others. Their opinion is that aspirations should be aimed at the free market of commodities, but not of capital, as the capital markets are unstable by their nature and they require state control.
The economic power revelations are drifting away from strong holds of developed countries like US and EU states to developing nations like China Inda Brazil etc. Globalization has helped to reduce poverty World Bank estimates reveal that number of people who lived on less than one dollar a day decreased from 2.5 billion in 2004 to 260 million in 2007.
Economic Globalization: Trends, Risks and Prevention 5 latter half of 1990, this proportion had already reduced to 0.6% and further down to an almost negligible o.4% in 1995.
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Economic globalization refers to the free movement of goods, capital, services, technology and information around the world. Since the 1990s, due to the improvement of advanced communication technologies and the rapid expansion of multinational corporations, economic globalization has become an important trend of the world economic development.