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The paper discusses the effects of globalization on the economies of individual countries and the collective economy. The paper discusses why globalization is seen as an evolution of market behaviors and how technology and modern cultures are assisting the globalization of economies. The negative effects on the world economic order are also addressed. The paper concludes with a discussion of their destructive implications that globalization continues to bear.
From the Paper:"Like the nation-building strategies of the past, globalization is a deeply controversial force. Its potential for collective improvement is a definition roundly rejected by many social welfare activists, who instead see it as a means to furthering conditions of economic inequality. The scale of economy for nations invested in globalization speaks to the difficulty in its successful implementation, according to a definition which followed the passage of the North American Free Trade Agreement in 1995 and assessed the need for the broadening of flexibility in regional relationships. As Frieden denotes, ''regional integration in the 1990s became an important component part of the overall process of economic globalization'' (Frieden, 411) Its advocates view globalization as the inherent effect of technological advance, with natural market tendencies serving as the prime impetus for expansion beyond traditional nation-state parameters. The International Monetary Fund, a primary institution in the implementation of globalization efforts, notes that the process ''refers to an extension beyond national borders of the same market forces that have operated for centuries at all levels of human economic activity - village markets, urban industries, or financial centers."
Sample of Sources Used:
- Frieden, J. (2006). Global Capitalism: Its Fall and Rise in the Twentieth Century. W.W. Norton.
- Rossheim, John. (2002). Job Creation and Job Destruction. The Great Labor Shortage. Online at http://ideas.repec.org/a/fip/fedder/y1998iq1p12-23.html
Cite this Analytical Essay:
The New Global Economic Order (2010, December 07) Retrieved February 17, 2020, from https://www.academon.com/analytical-essay/the-new-global-economic-order-145914/
"The New Global Economic Order" 07 December 2010. Web. 17 February. 2020. <https://www.academon.com/analytical-essay/the-new-global-economic-order-145914/>