Is Globalisation Good for the world today?
We live in a very globalised world today where everything is interconnected like communication, production and the economies of countries. Through the positive impact of globalisation on the economies of particular countries, which reduces the cost of products we purchase we can reach the conclusion that globalisation is valuable to people and the world. The positive impacts of globalisation include increased access to foreign lending and investment, the increased access to trade and the reduced cost of the products we purchase.
Globalisation has many benefits including increased access to foreign lending, and investment for developing countries. Globalisation allows people and places to develop and benefit greatly through access to lending and help from other countries and companies. For example, after the global financial crisis occurred in 2008 African countries were hit hard and the demand for imported goods reduced. The International Monetary Fund lent billions of dollars to countries like Ghana at very low interest rates. This support allowed countries to keep up their economy which prevents the loss of jobs allowing people to have a steady income for their family. ‘Ghana’s was also able to grow its economy by over 9% in 2011’. Investment and outside support allows developing countries to grow economically giving benefits to its people by supporting the economy of these countries. Foreign lending is also present through smaller means, ‘Nobel prize winner Muhammed Yonnis, created microcredit which loaned small amounts to families in developing Countries’. The families invested that money in local business and gained return on that investment which they then spent, they were able to increase their living standard and boost the economy with more spending. The benefit of investment and foreign lending from this aspect of globalisation is clear, people in developing countries are now able to receive support from other countries because of the interconnectedness of their economies and this two-way support brings benefits to people increasing their standard of living and countries now have more wealth from foreign investment to develop their infrastructure for its people. Foreign lending and investment has allowed countries to improve their economy through the positive impact of globalisation.
Globalisation has allowed countries to greatly benefit from trade. ‘World trade has increased by an average of 7% since 1945, causing this to be one of the big contributors to economic growth’. ‘According to the U.S. Trade Representative, U.S. exports support over 12 million jobs in America, and trade-related jobs pay an average of 15 to 20 percent higher wages than do non-trade-related jobs’. The interconnectedness of global economies has allowed trade to increase, agreements like free trade allow countries to take advantage of all of their resources and produce more products to export. Now countries can generate more revenue from trade and use it to facilitate the development of infrastructure and more. Trade also works to support many jobs which allow people to increase their standard of living and income. Globalisation and trade sustains many jobs and overall have a positive impact on the economies of many countries.
A major benefit of Globalisation is to the consumer who benefits from the reduced cost and increased range of products. ‘The cost for ocean shipping fell by half, airfreight by 85%, and telecommunications by 99% since 1930’ due to factors like technological developments brought by globalisation. Now the freight charges for a ‘ton of coffee delivered from Asia to Europe only accounts for 1% of the price’. This means that multinational corporations can find the most economical places to make and manufacture these products with low labour costs and easily transport it around the globe. By doing this they are able to keep prices low Multinationals are also able to grow exponentially and are able to own large amounts of capital like machinery and factories in many different countries due to the interconnectedness of their economies and the ease of operating in many countries. Multinationals can spread the costs over a large number of products reducing their marginal costs and achieving an economy of scale and pass on some of the savings to the consumer. The consumer now gets a wider variety of products from different countries due to the ease of transportation and more cheap and economical products. Globalisation has allowed for transportation to be more economical allowing firms to take advantage of cheap labor in different counties and make the cost of production and products cheap and give consumers a greater range of products as well with this we can come to the conclusion that Globalisation is valuable to people and the world.
Globalisation has made many positive changes to the world including beneficial economic changes and made the cost of products we purchase cheaper. Globalisation has increased access to foreign lending, and investment, improve trade which brings many economic benefits to countries and supports many jobs, and the rise of multinational corporations have allowed consumers to benefit from the low cost of production by taking advantage of cheap transportation and low cost labor. Globalisation has been a positive impact on the world and changed the economies of countries positively and gives consumers cheap products to buy through this we can reach the conclusion that globalisation is valuable to people and the world.
Globalisation has many benefits including increased access to foreign lending, and investment for developing countries. Globalisation allows people and places to develop and benefit greatly through access to lending and help from other countries and companies. For example, after the global financial crisis occurred in 2008 African countries were hit hard and the demand for imported goods reduced. The International Monetary Fund lent billions of dollars to countries like Ghana at very low interest rates. This support allowed countries to keep up their economy which prevents the loss of jobs allowing people to have a steady income for their family. ‘Ghana’s was also able to grow its economy by over 9% in 2011’. Investment and outside support allows developing countries to grow economically giving benefits to its people by supporting the economy of these countries. Foreign lending is also present through smaller means, ‘Nobel prize winner Muhammed Yonnis, created microcredit which loaned small amounts to families in developing Countries’. The families invested that money in local business and gained return on that investment which they then spent, they were able to increase their living standard and boost the economy with more spending. The benefit of investment and foreign lending from this aspect of globalisation is clear, people in developing countries are now able to receive support from other countries because of the interconnectedness of their economies and this two-way support brings benefits to people increasing their standard of living and countries now have more wealth from foreign investment to develop their infrastructure for its people. Foreign lending and investment has allowed countries to improve their economy through the positive impact of globalisation.
Globalisation has allowed countries to greatly benefit from trade. ‘World trade has increased by an average of 7% since 1945, causing this to be one of the big contributors to economic growth’. ‘According to the U.S. Trade Representative, U.S. exports support over 12 million jobs in America, and trade-related jobs pay an average of 15 to 20 percent higher wages than do non-trade-related jobs’. The interconnectedness of global economies has allowed trade to increase, agreements like free trade allow countries to take advantage of all of their resources and produce more products to export. Now countries can generate more revenue from trade and use it to facilitate the development of infrastructure and more. Trade also works to support many jobs which allow people to increase their standard of living and income. Globalisation and trade sustains many jobs and overall have a positive impact on the economies of many countries.
A major benefit of Globalisation is to the consumer who benefits from the reduced cost and increased range of products. ‘The cost for ocean shipping fell by half, airfreight by 85%, and telecommunications by 99% since 1930’ due to factors like technological developments brought by globalisation. Now the freight charges for a ‘ton of coffee delivered from Asia to Europe only accounts for 1% of the price’. This means that multinational corporations can find the most economical places to make and manufacture these products with low labour costs and easily transport it around the globe. By doing this they are able to keep prices low Multinationals are also able to grow exponentially and are able to own large amounts of capital like machinery and factories in many different countries due to the interconnectedness of their economies and the ease of operating in many countries. Multinationals can spread the costs over a large number of products reducing their marginal costs and achieving an economy of scale and pass on some of the savings to the consumer. The consumer now gets a wider variety of products from different countries due to the ease of transportation and more cheap and economical products. Globalisation has allowed for transportation to be more economical allowing firms to take advantage of cheap labor in different counties and make the cost of production and products cheap and give consumers a greater range of products as well with this we can come to the conclusion that Globalisation is valuable to people and the world.
Globalisation has made many positive changes to the world including beneficial economic changes and made the cost of products we purchase cheaper. Globalisation has increased access to foreign lending, and investment, improve trade which brings many economic benefits to countries and supports many jobs, and the rise of multinational corporations have allowed consumers to benefit from the low cost of production by taking advantage of cheap transportation and low cost labor. Globalisation has been a positive impact on the world and changed the economies of countries positively and gives consumers cheap products to buy through this we can reach the conclusion that globalisation is valuable to people and the world.
Do you like more facts and evidence? Check out our modified version of the article below!
Through the positive impact of globalisation on the economies of particular countries, which reduces the cost of products we purchase we can reach the conclusion that globalisation is valuable to people and the world. The positive impacts of globalisation include increased access to foreign lending and investment, the access to free trade and the reduced cost of the products we purchase.
Globalisation has greatly increased the access to foreign lending, and investment for developing countries. After the global financial crisis occurred in 2008 African countries were hit hard and the demand for imported goods reduced. ‘The International Monetary Fund lent billions of dollars to countries like Ghana at very low interest rates. Ghana’s was able to grow its economy by over 9% in 2011’. Ghana significantly benefited from this globalisation has allowed for economic support through lending to positively impact the economies of countries. Foreign lending is also present through smaller means, ‘Nobel prize winner Muhammed Yonnis, created microcredit which loaned small amounts to families in developing Countries’. The families invested that money in local business and gained return on that investment which they then spent, they were able to increase their living standard and boost the economy with more spending. ‘Last decade Angola grew its GDP by 11.1% which came after president Obama announced a 14-billion-dollar commitment to Africa from various US corporations’ and China also heavily invested in the region. This has allowed many families to raise their standard of living and allowed for great development through foreign investment this would not have been possible if not for globalisation and its impact on the economies of countries. ‘Foreign investment has increased from 16 billion to 1.8 trillion in 2015’ allowing for the development of infrastructure leading to the positive impact on the economies of countries. Foreign lending and investment has allowed countries to improve their economy through the positive impact of globalisation.
Countries have greatly benefited from trade and it has been a driver of economic growth. ‘World trade has increased by an average of 7% since 1945, causing this to be one of the big contributors to economic growth’. ‘According to the U.S. Trade Representative, U.S. exports support over 12 million jobs in America, and trade-related jobs pay an average of 13 to 16 percent higher wages than do non-trade-related jobs’. Trade carries a substantial portion of the jobs in many countries which leads to economic benefits. Take for example north and south Korea the south which is more globalized and open to trade ‘possess a trade volume of 1 trillion dollars while north Korea runs a trade deficit and reports 7 billion dollars of trade volume’ it’s easy to see that the south has an ‘almost 135 times bigger GDP than the north’. Globalisation and trade has allowed the economies of countries to grow tenfold, create many jobs and overall have a positive impact on the economies of many countries proving that globalisation is valuable to people and the world.
Globalisation also leads to consumer benefits like reduced cost of products we purchase. ‘The cost for ocean shipping fell by half, airfreight by 85%, and
telecommunications by 99% since 1930’ due to low fuel prices and technological developments brought by globalisation. Now the freight charges for a ‘ton of coffee delivered from Asia to Europe only accounts for 1% of the price’. This means that companies can find the most economical places to make and manufacture these products with low labour costs and easily transport it around the globe. ‘Ikea sources its products from 1350 suppliers in 50 countries’ by doing this they are able to keep prices low by finding the cheapest labour and places to manufacture their products. Firms are also able to grow exponentially and are able to own large amounts of capital like machinery and factories and spread the costs over a large number of products reducing their marginal costs allowing companies to achieve an economy of scale and pass on some of the savings to the consumer. Globalisation has allowed for transportation to be more economical allowing firms to take advantage of cheap labor and make the cost of production and products cheap and with this we can come to the conclusion that Globalisation is valuable to people and the world.
Globalisation has made many positive changes to the world including beneficial economic changes and made the cost of products we purchase cheaper. Globalisation has increased access to foreign lending, and investment allowing countries to develop faster, the access to free trade brought economic benefits to many countries and supports many jobs, and the rise of multinational corporations have allowed consumers to benefit from the low cost of production by taking advantage of cheap transportation and low cost labor. Globalisation has been a positive impact on the world and changed the economies of countries positively and gave consumers cheap products to buy through this we can reach the conclusion that globalisation is valuable to people and the world.
Globalisation has greatly increased the access to foreign lending, and investment for developing countries. After the global financial crisis occurred in 2008 African countries were hit hard and the demand for imported goods reduced. ‘The International Monetary Fund lent billions of dollars to countries like Ghana at very low interest rates. Ghana’s was able to grow its economy by over 9% in 2011’. Ghana significantly benefited from this globalisation has allowed for economic support through lending to positively impact the economies of countries. Foreign lending is also present through smaller means, ‘Nobel prize winner Muhammed Yonnis, created microcredit which loaned small amounts to families in developing Countries’. The families invested that money in local business and gained return on that investment which they then spent, they were able to increase their living standard and boost the economy with more spending. ‘Last decade Angola grew its GDP by 11.1% which came after president Obama announced a 14-billion-dollar commitment to Africa from various US corporations’ and China also heavily invested in the region. This has allowed many families to raise their standard of living and allowed for great development through foreign investment this would not have been possible if not for globalisation and its impact on the economies of countries. ‘Foreign investment has increased from 16 billion to 1.8 trillion in 2015’ allowing for the development of infrastructure leading to the positive impact on the economies of countries. Foreign lending and investment has allowed countries to improve their economy through the positive impact of globalisation.
Countries have greatly benefited from trade and it has been a driver of economic growth. ‘World trade has increased by an average of 7% since 1945, causing this to be one of the big contributors to economic growth’. ‘According to the U.S. Trade Representative, U.S. exports support over 12 million jobs in America, and trade-related jobs pay an average of 13 to 16 percent higher wages than do non-trade-related jobs’. Trade carries a substantial portion of the jobs in many countries which leads to economic benefits. Take for example north and south Korea the south which is more globalized and open to trade ‘possess a trade volume of 1 trillion dollars while north Korea runs a trade deficit and reports 7 billion dollars of trade volume’ it’s easy to see that the south has an ‘almost 135 times bigger GDP than the north’. Globalisation and trade has allowed the economies of countries to grow tenfold, create many jobs and overall have a positive impact on the economies of many countries proving that globalisation is valuable to people and the world.
Globalisation also leads to consumer benefits like reduced cost of products we purchase. ‘The cost for ocean shipping fell by half, airfreight by 85%, and
telecommunications by 99% since 1930’ due to low fuel prices and technological developments brought by globalisation. Now the freight charges for a ‘ton of coffee delivered from Asia to Europe only accounts for 1% of the price’. This means that companies can find the most economical places to make and manufacture these products with low labour costs and easily transport it around the globe. ‘Ikea sources its products from 1350 suppliers in 50 countries’ by doing this they are able to keep prices low by finding the cheapest labour and places to manufacture their products. Firms are also able to grow exponentially and are able to own large amounts of capital like machinery and factories and spread the costs over a large number of products reducing their marginal costs allowing companies to achieve an economy of scale and pass on some of the savings to the consumer. Globalisation has allowed for transportation to be more economical allowing firms to take advantage of cheap labor and make the cost of production and products cheap and with this we can come to the conclusion that Globalisation is valuable to people and the world.
Globalisation has made many positive changes to the world including beneficial economic changes and made the cost of products we purchase cheaper. Globalisation has increased access to foreign lending, and investment allowing countries to develop faster, the access to free trade brought economic benefits to many countries and supports many jobs, and the rise of multinational corporations have allowed consumers to benefit from the low cost of production by taking advantage of cheap transportation and low cost labor. Globalisation has been a positive impact on the world and changed the economies of countries positively and gave consumers cheap products to buy through this we can reach the conclusion that globalisation is valuable to people and the world.