Globalization in Brazil and the UK

Paper Summary:

This paper examines how globalization has come to be defined in the past few years, in two separate countries: Brazil and the United Kingdom. This paper focuses on the analysis of Brazil's economy and its decision not to default on international debts, compared with the UK's position as a powerful world economic force. The paper concludes by summarizing the differences in the effects of globalization on the two nations.

From the Paper:

"In direct contrast with the struggles faced by Brazil over the past few years with regard to its own attempts to deal with the globalization of markets and economic policies, the United Kingdom has flourished as a result of globalization (at least partially). The UK holds positions of power and authority in the worldwide organizations which shape and mold international economic policy, such as the G8 group and the European Union. As an industrialized nation, the UK stands to gain substantially from the cheaper products available in a global market as well as the potential for outsourcing of labor to a less costly environment (such as that available in Brazil or India). Additionally, as a global power in the regulatory environment which governs such international economic agreements, as the United Nations, World Trade Organization, and G8 group of nations, the UK holds significantly more bargaining power and influence over the direction that global markets take than a smaller, less developed nation like Brazil, even in light of Brazil's potential work force, production power and market share."

Sample of Sources Used:

• Amann, Edmund (2005) "A New Era for Brazil's Economy?" Hemisphere: A Magazine of the Americas, Volume 15, Summer edition, p. 14-17.
• Creswell, Julie "Investing in a Dangerous World," Fortune 6/16/2003, Vol. 147, Issue 12
• Crockett, Sohani (2006) "Buying a bracelet won't do it," New Statesman, 3/27/2006, Vol. 135 Issue 4785, p19.
• "Down to the Roots," Economist 6/2/01, 359:8224, p. 70.
• Egan, Mary. "Health Matters," Forbes 4/19/04, 173:8.

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