Globalization

Paper Summary:

This paper looks at the process of globalization and what advantages is has to offer. While acknowledging the disadvantages of globalization, the paper also points out what countries stand to gain from the process. The paper explains that, far from limiting its purposes to working for the exclusive sake of market forces, globalization could and should become a mechanism for promoting democracy, equality and common values for human beings.

From the Paper:

"International procurements, as a share of a firm's total purchase volume, have expanded steadily since the end of the 1970s. In 1977, only 2.5 percent of total purchased value in the U.S. were procured from other countries; the global proportion of purchases expanded to around 5 percent by 1981, and grew to 19 percent of total procurements in 1990. This steady increase in global sourcing is one observable dimension of the internationalization of American firms. Internationalization, the expanding involvement of a firm's business functions in the global arena, has brought new consumer goods to some countries, lower component costs to other countries, and increased employment for many."

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