Railways also added to the convenience and transportation became cheaper. International trade has made these MNC’s flourish in their businesses. 1 0 obj
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Globalization has positive impact on corporatization of trade and businesses into multinational corporations. H��VMo�6��W̑*�)�"ul��ho�aӃb+�[[r-A�����l�Y'klD�����mA�}�9�'sV��¯3�y�e��UUp�U��R��o�����0R��Xi{��^Z`+}�]k�,q�;Xk�*^�,��$�+�pę�۴J*�����H��NX{k�ĖJ>�c�f��V:��{*��س���Yqo�{VܫX�-K�K쩾�X��?��]]�7T?e^��y��M����e� 0000003945 00000 n
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Globalization can be traced back to historic times of Indus valley civilization. �FZ��-��GiZ���=��%��8j
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On the negative side, the uniqueness is difficult to protect. Sporting world became of very competitive because of globalization with the expertise training and facilities becoming easily available. ��f~@����*�"n�McT�E�|��0C��U�S�ъ�O�
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DrfΜ9g��� �p�op�iu�a@�ê� H���=n�0��ݧ� ���ޥc��9(z��R�´]���,���v�Ov/�����H�����NB��Q�~P��*��KL���=T��ؿ�h�.�k(���3�Џ���(W/\�CG+ߣ�m�$�e��c.�H)�,��Rm�[a���"��R It is quite obvious that the tremendous changes and innovations in telecommunications and transportation are the prime factors responsible for current state of globalization. ����~�+;���ޭ\��|�?�Z������? Globalization is an elimination of barriers to trade, communication, and cultural exchange. %PDF-1.4
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In both academic and popular discourses globalization has become one of the catchwords of the 1990s. the phenomenon of increased integration of the world economy as evidenced by the growth of international trade and factor mobility.‘‘. Since several years man has been in contact with people spread over the continents. But what people mean by ‘globalization’ is often confused and confusing. 0000017883 00000 n
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Telecommunication networks developed drastically in 1990s and the use of computers improved the work efficiency. 0000008006 00000 n
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One final area of common ground: most participants in the dialogues believed that solutions were possible, and many were already actively seeking or promoting them.
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Globalization: theory and experience.’Globalization’ is a favourite catchphrase of journalists and politicians. This trend was followed in the 20th century and transportation became much faster and safer with innovations in technology in several fields including electronic and tele-communications. Trade contacts were developed by several countries. The defining document of the Cold War system was "The Treaty." Before we launch into a full-fledged review of the term and its various manifestations, it is important to consider what exactly we mean when we say globalization. In business, the term is often used in an economic context to describe an integrated economy marked by free trade, the free flow of capital and corporate use of foreign labor markets to maximize returns and benefit the common good.. How globalization works At later stages Muslim and Jewish traders tried to bridge the gaps between the countries by creating new trade routes. 78 0 obj<>stream
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Several trade routes were established with different regions across the continents. to the impact of globalization on employment, WCII and poverty in DCs, while the concluding Section 6 will summarize the main findings and suggest some policy implications. <<9C4EB19EF3B69D44B5ACB706EB6A98D8>]>>
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But the incidence of World War I and World War II created negative influence on the globalization as several countries had to experience setbacks because of political and economic changes globally. As per Roland Robertson, a sociology professor at the University of Aberdeen gave an apt definition to globalization. 4 0 obj %PDF-1.4
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In this way one country influenced the other in varied fields. World has become a global village and network connections became very convenient across the world. The low cost carriers and Open Sky policy among the counties gave rise to tough competition in trade and other fields.
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An off shoot of business and economic globalization is its effect on culture. Teitel (2005) defines (economic) globalization as ‗‗. Socially, it leads to greater interaction among various populations.
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