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Globlisation Of Economy Essay

1437 words - 6 pages

Globalization is not new, though. For thousands of years, people—and, later, corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. In fact, many of the features of the current wave of globalization are similar to those prevailing before the outbreak of the First World War in 1914.

Map of the Silk Road

But policy and technological developments of the past few decades have spurred increases in cross-border trade, investment, and migration so ...view middle of the document...

Governments also have negotiated dramatic reductions in barriers to commerce and have established international agreements to promote trade in goods, services, and investment. Taking advantage of new opportunities in foreign markets, corporations have built foreign factories and established production and marketing arrangements with foreign partners. A defining feature of globalization, therefore, is an international industrial and financial business structure.
Technology has been the other principal driver of globalization. Advances in information technology, in particular, have dramatically transformed economic life. Information technologies have given all sorts of individual economic actors—consumers, investors, businesses—valuable new tools for identifying and pursuing economic opportunities, including faster and more informed analyses of economic trends around the world, easy transfers of assets, and collaboration with far-flung partners.
Globalization is deeply controversial, however. Proponents of globalization argue that it allows poor countries and their citizens to develop economically and raise their standards of living, while opponents of globalization claim that the creation of an unfettered international free market has benefited multinational corporations in the Western world at the expense of local enterprises, local cultures, and common people. Resistance to globalization has therefore taken shape both at a popular and at a governmental level as people and governments try to manage the flow of capital, labor, goods, and ideas that constitute the current wave of globalization.
To find the right balance between benefits and costs associated with globalization, citizens of all nations need to understand how globalization works and the policy choices facing them and their societies. Globalization101.org tries to provide an accurate analysis of the issues and controversies regarding globalization, without the slogans or ideological biases generally found in discussions of the topics. We welcome you to our website.

Economic growthin agriculture

The Farmer Field School movement thus shows that it
is possible to generate very high returns on investment
in agricultural research and rural development in Africa.
This helps fulfil the agreement of global leaders at
the 2005 United Nations World Summit that greater
investment in agricultural and rural development is
crucial for achieving the Millennium Development
Goals. The leaders committed to increasing support for
agricultural development and trade capacity-building in
the agricultural sector in developing countries.
Agricultural development makes a critical
contribution to overall economic growth in many
developing countries. As farmers’ incomes rise, so does
their demand both for farm inputs and services, and for
non-farm goods. Increased agricultural production also
leads to increased demand for processing facilities.
Figures from the International Food...

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