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SUMMARY OF CONTENT
As a task this was a very broad assignment with lots of material, insights and opinions to be covered and considered. To give a grounded account of Globalisation it was very important to cover differing viewpoints, definitions and opinions. Globalisation is in effect the breaking down of barriers, whether they be trade, logistical, cultural or otherwise that may have previously prevented cross border trade and relationships. The continuing development and advancement of most notably internet technologies have allowed for a rapid progression of globalisation which manifests into daily life across the world. It is such advancements along with free trade agreements and other public policies that have proven to be the main drivers of Globalisation. In the regard for Globalisation opinion and favour are very much divided with some highly critical of its effects worldwide claiming that it is detrimentally making the rich richer and the poor poorer while the flip side of the argument claiming it opens up opportunities for poorer countries to develop. This is clear to be seen in the case of countries such as China and Brazil but these countries have been able to, and could afford to, invest heavily in the infrastructure necessary to facilitate the large amounts of FDI and trade that have created their large growth rates. In the case of 3rd world countries, particularly those in Africa, they simply cant afford to invest as is necessary and as such the effect is the reverse, with continued decline and rich nations taking advantage of and gaining increased wealth from their natural resources. This report does not lean either way in this debate but outlines both advantages and disadvantages that Globalisation presents while highlighting the battle to balance Globalisation to which end should exist a more universally positive outcome. Further to this insight into this topic and the poles that exist within it, this report outlines Globalisation in action with focus on the case of Ireland; from becoming globalised and first opening its doors to external trade and FDI to the current struggle it is enveloped in to continue to attract FDI and compete on the global scale. Ireland in its essence, due to its developed dependence on external investment and proportionately large volumes of export trade, is very much a country that is highly susceptible to the effects of Globalisation with these

effects almost magnified due to its nature. It is for this reason that Ireland is the perfect example to outline a complete overview of what may be considered the cyclical impact Globalisation has had. All in all this report does not try to conquer the non-existence of agreement/universal definition within Globalisation but more-so to engage the reader in its dualities.

INTRODUCTION
This report aims to give a comprehensive overview of Globalisation as a topic of international interest and application. This will be done by firstly answering What is Globalisation? and how it is measured to show the different considerations that are placed upon it and the different opinions that are prevalent within. Following this by explaining the impact globalisation has on the world as a whole, particularly trade and social aspects, this report will help garnish a fact born opinion in the reader as to their favour of this topic. Added to this a case of globalisation in action with reference to Ireland as an example, this report will highlight the benefits, efforts and challenges faced within the globalisation endeavour of a developing/developed nation. Finally by reviewing the developing scope of globalisation and factors that are now emerging within this, this report will give an understanding of the current standing of globalisation world-wide and the implications this may have on a countrys governance of this interest and also on the entity of th is topic as a whole.

WHAT IS GLOBALISATION?
Globalisation refers to an evolving pattern of cross-border activities of firms involving international investment, trade and collaboration for purposes of product development, production and sourcing, and marketing. These international activities enable firms to enter new markets, exploit their technological and organisational advantages, and reduce business costs and risks. Underlying the international expansion of firms, and in part driven by it, are technological advances, the liberalisation of markets and increased mobility of production factors. (Organisation For Economic Co-Operation And Development, 1994) Globalisation is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. (Levin Institute, NY State University) in its simplest sense globalisation refers to the widening, deepening and speeding up of global interconnectedness. (Held, McGrew, Goldblatt, Perraton, 1999) As seen from the quotes above, globalisation can be and is defined in a number of ways, but it can be generally understood as the movement of people, goods, capital, and ideas due to increased economic integration which is driven by increased trade and investment. It is a process by which the people of the world are gradually being unified into a single society and function together.

GLOBALISATION AND MARKETS.

Globalization is a dynamic, world wide process of opening, liberalization and international integration through a vide variety of markets: labor, goods, capital, technology, services. (Guillermo de la Dehesa, 2007). Speaking of markets let us consider some areas such as: industrial= e me r g e n c e o f wo r l d wi d e p r o d u c t i o n ma r k e t s a n d e x t e n d e d a c c e s s t o foreign products for both consumers and companies; financial= wo r l d wi d e e me r g e n c e a n d e x p a n s i o n o f f i n a n c i a l ma r k e t s wi t h b e t t e r access to external financing; economic= building up a global common market, based on the freedom of exchange of goods and capital. technical= more efficient co-operation, exchange and implementation of technology; T h e e n u me r a t i o n ma y c o n t i n u e wi t h ma n y mo r e e l e me n t s a n d / o r a r e a s wh i c h c a n n o t b e overlooked when approaching the issue of globalization, which is more and more seen as a c o n s t r u c t i v e p r o c e s s o f o u r mo d e r n t i me s . O n e ma y e q u a l l y i n c l u d e h e r e c o n c e p t s a n d relationships relating to areas like politics, the social context, culture, the legal system, ethics, environment, ecological considerations and many others. Speaking about the gradual emergence and consolidation of these common denominators, the problem mainly rests with the consequences and the ways in which they have affected a possible globalized world, still affect it nowadays and will carry on exerting their impact in future. At first sight, being most diverse, complex and abundant in variables and inter dependencies, any process of unification of such amplitude may seem
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almost impossible. This appears all t h e mo r e e v i d e n t i f we d r a w a p a r a l l e l wi t h t he c o n c e p t o f c u l t u r e a n d wh a t e s s e n t i a l l y underlies it: diversity, specificity, relativity, uniqueness and, especially its remnant force (its memory).

The existence and the relevance of cultural differences may be affected by globalization, even if only partially. One should not forget that these differences range from very low levels, such as the members of the same family, to higher ones, like those between nations. Looking back in time, if hundreds of years ago all these specificities may have seemed most hard to spell out and deal with (unless power as force was the main intervention instrument)nowadays, things have substantially changed. Globalization remains a concept still comfortably easy to define, in broad terms, yet very difficult to forecast, categories or capture against neatly definable patterns. F u t u r e directions of development, changes at various societal levels, the nature of interrelations, the impact on the culture physiognomy (and the list remains open to improvement) will still give a lot of trouble to research. This becomes the more so evident especially when research and analysis target uncertainty avoidance against the background of the impact of globalization on a given culture becoming. However, prospects such as interaction, interdependence, adaptation, cohabitation, sharing or unification may no longer seem so intangible faraway pavilions, provided the list of for and against motivation on globalization grows richer in its for argumentation. I f t h i s turns out to be the case, globalization has all the chances to become a source and creator of pleasant, profitable environments, of synergy, and less one of misunderstanding and conflicts.

HISTORY OF GLOBALISATION
This is quite a debatable topic because of the various perspectives and opinions of the globalisation time span and duration. According to Daniele Conversi, the two are actually closely interrelated; and if we think, as some authors do, that the Roman Empire entailed forms of globalisation, what use is such an expanded definition of the concept for understanding our present predicament? Therefore, even though some glimpses of globalisation can be dated back that far, cultural and mainly economic globalisation have been happening for the past 25 years but has only really accelerated in the last 15 years. This is partly due to the growth in technology of transportation and communication one of the driving factors of globalisation. Globalization has been a historical process with ebbs and flows. During the Pre-World War I period of 1870 to 1914, there was rapid integration of the economies in terms of trade flows, movement of capital and migration of people. The growth of globalization was mainly led by the technological forces in the fields of transport and communication. There were less barriers to flow of trade and people across the geographical boundaries. Indeed there were no passports and visa requirements and very few non-tariff barriers and restrictions on fund flows. The pace of globalization, however, decelerated between the First and the Second World War. The inter-war period witnessed the erection of various barriers to restrict free movement of goods and services. Most economies thought that they could thrive better under high protective walls. After World War II, all the leading countries resolved not to repeat the mistakes they had committed previously by opting for isolation. Although after 1945, there was a drive to increased integration, it took a long time to reach the Pre-World War I level. In terms of percentage of exports and imports to total output, the US could reach the pre-World War level of 11 per cent only around 1970. Most of the developing countries which gained Independence from the colonial rule in the immediate Post-World War II period followed an import substitution industrialization regime. The Soviet bloc countries were also shielded from the process of global economic integration. However, times have changed. In the last two decades, the process of globalization has proceeded with greater vigour. The former Soviet bloc countries are getting integrated with the global economy. More and more developing countries are turning towards outward oriented policy of growth. Yet, studies point out that trade and capital markets are no more globalized today than they were at the end of the 19 th century. Nevertheless, there are more concerns about globalization now than before because of the nature and speed of transformation. What is striking in the current episode is not only the rapid pace but also the enormous impact of new
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information technologies on market integration, efficiency and industrial organization. Globalization of financial markets has far outpaced the integration of product markets.

NEED FOR GLOBALISATION

Indias experience in globalization could be divided in to two phases. The first phase of economic liberalization began in 1981, under pressure from the International Monetary Fund and the World Bank. During this phase, India received the U.S. $5 billion loan that was conditional on an adjustment program me from the IMF. The second phase of globalization began in 1991Where the economic measures initiated were based on the World Banks Structural Adjustment Program me (SAP) designed to restructure the economy However, India sentry into globalization is relatively later than most of other third world countries After independence, India followed the policy of planned growth and for this it pursued conservative policies. The public sector was given dominant position and was made the main instrument for growth. The fiscal policy was framed in a way that it mobilized resources from the private sector to finance development programmed and public investment in infrastructure. Similarly monetary policy sought to regulate financial flowsin accordance with the needs of the industrial sector and to keep the inflation under control. Foreign trade policy was formulated to protect domestic industry and keep trade balance in manageable limits. These conservative policies continued for decades, but it was noticed as early as in 1980sthat there was: Excess of consumption and expenditure over revenue resulting in heavy government borrowings; Growing inefficiency in the use of resources; Over protection to industry; Mismanagement of firms and the economy; Mounting losses of public sector enterprises; Various distortions like poor technological development and shortage of foreign exchange; and imprudent borrowings from abroad and mismanagement of foreign exchange reserves.

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MEASURES OF GLOBALIZATION

1. Devaluation: The first initiative towards globalization had been taken the moment there was an announcement of devaluating the Indian currency by a hoping 18-19% against all the major global currencies. This was a major initiative in the international foreign exchange arena. The Balance of payment crisis could also be resolved by this measure.

2. Disinvestment: The core elements of globalization are privatization and liberalization. Under the privatization scheme, bulk of the public sector undertakings have been/ and are still being sold to the private sector. Thus the concept of PPP (public private partnership) came up.

3. Allowing Foreign Direct Investment (FDI): Allowing FDI inflows is a major step of globalization. The foreign investment regime has been quite transparent and thus the economy is getting boosted up. Various sectors were opened up for liberalizing the FDI regime.

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Effects of Globalization
According to economists, there are a lot of global events connected with globalization and integration. It is easy to identify the changes brought by globalization. 1. Improvement of International Trade. Because of globalization, the number of countries where products can be sold or purchased has increased dramatically. 2. Technological Progress. Because of the need to compete and be competitive globally, governments have upgraded their level of technology. 3. Increasing Influence of Multinational Companies. A company that has subsidiaries in various countries is called a multinational. Often, the head office is found in the country where the company was established. An example is a car company whose head office is based in Japan. This company has branches in different countries. While the head office controls the subsidiaries, the subsidiaries decide on production. The subsidiaries are tasked to increase the production and profits. They are able to do it because they have already penetrated the local markets. The rise of multinational corporations began after World War II. Large companies refer to the countries where their subsidiaries reside as host countries. Globalization has a lot to do with the rise of multinational corporations. 4. Power of the WTO, IMF, and WB. According to experts, another effect of globalization is the strengthening power and influence of international institutions such as the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank (WB). 5. Greater Mobility of Human Resources across Countries. Globalization allows countries to source their manpower in countries with cheap labor. For instance, the manpower shortages in Taiwan, South Korea, and Malaysia provide opportunities for labor exporting countries such as the Philippines to bring their human resources to those countries for employment. 6. Greater Outsourcing of Business Processes to Other Countries. China, India, and the Philippines are tremendously benefiting from this trend of global business outsourcing. Global companies in the US and Europe take advantage
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of the cheaper labor and highly-skilled workers that countries like India and the Philippines can offer 7. Civil Society. An important trend in globalization is the increasing influence and broadening scope of the global civil society. Civil society often refers to NGOs (nongovernment organizations). There are institutions in a country that are established and run by citizens. The family, being an institution, is part of the society. In globalization, global civil society refers to organizations that advocate certain issue or cause. There are NGOs that support women's rights and there are those that promote environment preservation. These organizations don't work to counter government policies, but rather to establish policies that are beneficial to all. Both the government and NGOs have the same goal of serving the people. The spread of globalization led to greater influence of NGOs especially in areas of great concern like human rights, the environment, children, and workers. Together with the growing influence of NGOs is the increasing power of multinational corporations. If the trend continues, globalization will pave the way for the realization of the full potential of these two important global actors.

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MAIN DRIVING FACTORS OF GLOBALISATION

There are three fundamental factors which have affected the process of economic globalization and are likely to continue driving it in the future:

1. Improvements in the technology of transportation and communication have reduced the costs of transporting goods, services, and factors of production and of communicating economically useful knowledge and technology. 2. The tastes of individuals and societies have generally, but not universally, favoured taking advantage of the opportunities provided by declining costs of transportation and communication through increasing economic integration.

3. Public policies have significantly influenced the character and pace of economic integration, although not always in the direction of increasing economic integration.

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OTHER DRIVING FACTORS OF GLOBALISATION: International Direct Investment International Trade International Inter-firm Collaboration The characteristics of globalisation are crucially shaped by firm, industry, and country differences. Large multinational enterprises are the main actors, although a growing number of smaller firms are engaged in cross-border activities. In manufacturing, globalisation involves mainly R&D-intensive and assembly industries while labour-intensive industries are less globalised. Finally, this phenomenon is still largely concentrated in the OECD area although the Dynamic Asian Economies and China are rapidly becoming involved, as are some countries in Latin America and Eastern Europe. (Organisation For Economic Co-Operation And Development, 1994) As a result of the different perspectives and opinions on globalisation, a number of myths have developed regarding it.

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MYTHS ABOUT GLOBALISATION

Globalisation eliminates jobs Globalization directs capital where wages are lowest and exploits the poorest workers

Capital is exported from rich countries to the third world creating sweatshops, which then export lots of cheap goods to richer nations, generate trade surpluses, and undercut manufacturing in rich countries, so all are made worse off Globalization creates a homogeneous American culture around the world

Globalization causes a race to the bottom in environmental and labour standards Globalization creates inequality

Trade leads to benefits for all Overall, globalisation is the trend toward greater interdependence and interconnectedness of the worlds systems. A globalised world can be perceived through an array of analogies; a borderless society, a small boat.

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GLOBALISATION AND ITS IMPLICATIONS

As identified earlier in the report, the concept of globalisation has grown in dramatic levels over the past ten to fifteen years, leading to a variety of positives and negatives becoming established and resulting in certain implications being imposed on countries worldwide. Statistics gathered over time shows the impact that the implementation of globalisation is having on the level of international trade, everyday more than $1.5 trillion is now swapped in the world's currency markets and around one-fifth of products and services are generated per year are bought and sold. (Benefits of Globalisation, May 2011). However there is substantial proof that this idea of globalisation is having a detrimental effect on people in the developing world, by only widening the gap between rich and poor. In the book Globalisation and its discontents by Joseph Stiglitz (2002), there is compelling and irrefutable evidence that this aspect of globalisation is being seriously mismanaged and only succeeding in making the wealthy richer and increasing poverty in developing nations. The various pros and cons will now be identified below and how they relate to specific areas in the world. Without doubt, the emergence of borderless markets has enabled countries to increase their level of production and sales tenfold through the export market, and outsource goods or services which are either cheaper or not available in the domestic market and although this does bring obvious advantages, these activities can suffocate certain countries even further.

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GLOBALIZATION IN INDIA
Globalization refers to situation marked by substantial degree of economic activities carried out across boundaries of different countries or nations. The nature of economic activities present in the kind globalization that is existing today, goes much beyond the simple import and export trading activities. Globalization today involves manufacturing as well as sourcing activities being carried out in multiple countries to manufacture products that may be distributed in many countries not involved in sourcing or manufacturing countries. Globalization also involves trans-national border ownership and entrepreneurship. Businesses and investors from one country may own and operate business, or provide various types of collaborative support in multiple countries. One good example of globalization is provided by Toyota. It is a a company that originated in Japan, but now owns and operates subsidiary and joint venture companies in many different countries. It operated assembly plants in many different country, and typically plant in each country sources components from multiple countries, many of which may have no Toyota assembly plants. The Toyota cars manufactured are then sold throughout the world.

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FEATURES
The features of globalization may be discussed as follows: 1. It means free access to the markets in the world without any physical (quota) or fiscal (tariff) or any other governments) restriction. Hence, global consumers emerge demanding high quality products and more value for their money without any restrictions like parochial, regional or national consideration. 2. Globally standardized products need be marketed ail over the world. There are already many such products having world market. It includes the "lead" products in a region taking care of dominant needs of that region. 3. Globalization requires resources like raw materials, finance and technology. Free access to quality raw materials, latest technology and cheap finance are important characteristics of this process at less cost. 4. In globalization. Free mobility of managerial personnel and entrepreneurs result into mergers, takeovers and structural regrouping in countries across the globe.

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TYPES OF GLOBALIZATION

Globalization is a massive topic which is studied at length and as a result any answer here is going to be just the tip of the iceberg. There are many different types of globalization, the three main subtypes are: Economical, Cultural/social and Political.

1. Economic Globalization:
Economic and technological globalization is where goods and services are now provided by large corporations on a worldwide level. This is done by utilizing resources in countries where they are more economically viable as well as moving raw materials to where they can be transformed into saleable goods. Through the rise of container ships, the easy transport of any type of product makes it feasible to transport goods around the world to increase a profit margin. This also includes the opening up of borders to allow labor forces to work outside of their home countries, as in the EU, although there are still considerable boundaries for workers in the rest of the world. No national economy is an island now. To varying degrees, national economies influence one another. One country which is capital-rich invests in another country which is poor. One who has better technologies sells these to others who lack such technologies. The products of an advanced country enter the markets of those countries that have demands for these products. Similarly, the natural resources of developing countries are sold to developed countries that need them. Thus, globalization is predominantly an economic process involving the transfer of economic resources form one country to another.

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2. Cultural Globalization:
Cultural globalization comes from the rise of large media conglomerates that saturate the airwaves with a particular point of view and corporate entities like Coca-Cola, McDonalds and Starbucks who homogenize society and take away from local culture and traditions. This could be argued to be the western, more developed countries taking advantage of markets which were not otherwise available. It is often done with a young population in the developing country who are happy to have, what they consider, the chance of the spoils of the West. Culture has increasingly become a commodity. Popular books and films have international markets. Harry Potter has readers almost all over the world. English movies are seen almost in all countries. Western pop music has become popular in developing countries. The reverse flow of culture is insignificant. The flow of culture is mainly from the North to the South. In the last few years the media owners of the West have shown interest in entering developing countries. For example, Murdoch has opened TV channels (STAR News, STAR Movies and STAR Plus) in India. Cultural globalization has been facilitated by the information revolution, the spread of satellite communication, telecommunication networks, information technology and the Internet etc. This global flow of ideas, knowledge and values is likely to flatten out cultural differences between nations, regions and individuals. As this flow of culture is mainly from the centre to the periphery, from the North to the South, and from the towns and cities to villages, it is the cultures of villages of poor countries which will be the first to suffer erosion.

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3. Political Globalization :
Since long, efforts have been on to bring the whole world under one government. The League of Nations and the UN have been the efforts in that direction. It is believed that the world under one government will be safer and freer from conflicts: The UN has belied expectations, but a number of regional organisations like European Union, ASEAN, APEC and SAARC, and multicultural economic organisations such as WTO have come up. The member-states remain sovereign, but through their obligations and commitments, they have, to some extent, integrated themselves to the concerned international organisations and groupings.

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CAUSES OF GLOBALIZATION

While it is true that state ventures (or adventures) have at times driven the process, e.g. the colonial conquests, the globalization process has largely reflected market forces, specifically, the exploitation by large and smaller businesses in the world of benefits from trade in commodities, goods, services, capital, and even labour, and of opportunities for new investments and markets. The process of global economic integration was perpetrated at the behest of World War II, when the leaders of Britain and the US helped establishing the World Bank and International Monetary Fund in 1944 to promote a liberal, capitalist world to counter the shadows of Socialism and Marxism. The loans are granted by IMF and WB on the condition that the borrowing country will reduce the state's role in the economy, lower barriers to imports, remove restrictions on foreign investment, eliminate subsidies for local industries, reduce spending for social welfare, cut wages, devalue the currency, and emphasize production for export rather than for local consumption. Such conditions imposed laid the basic foundation to open economies to steer the mechanism of economic integration giving birth to the World Trade Organization. By mid 1950s Pakistan had become a favourite candidate for receiving the benefits pledged by President Truman, having joined the network of international defence treaties with the United States. It marked the beginning of an enduring trend in Pakistan to follow every one of the strategies of development devised successively in Washington and promoted globally. Pakistan's own Dr. Mahbub-ul-Haq called this trend the pursuit of "development fashions" and listed it among his "seven sins of economic planners." Before development theory and practice could be redesigned in any significant way to address the lingering issue of social justice it was literally hijacked to serve the agenda of a more aggressively mobile global capital which aimed at a deeper integration of all national economies into the structures and ideological framework of neo-liberal globalization. Foreign debt is the main lever used by donor countries and multilateral aid organizations to break resistance to the imposition of external economic agendas and development policies.

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CLAIMED BENEFITS OF GLOBALIZATION

World has discovered new trade routes and improved the technology of transport to obtain the benefits from the process of openness. Openness to foreign direct investment can contribute to economic growth by stimulating domestic capital formation and improving efficiency and productivity, as a result of greater access to new technologies. Increased competition and access to the domestic financial system by foreign banks may improve the effectiveness of the intermediation process between savers and borrowers, thereby lowering mark up rates in banking, as well as the cost of investment, and again raising growth rates. Financial openness helps to lessen asymmetric information problems and to reduce the fixed costs associated with small-scale lending; it can enhance the opportunities for the poor to access the formal financial system. It is widely accepted that openness has long been seen as important element of good economic policy and trade liberalization as necessary step for achieving it. Trade liberalization process often works as an instrument to combat poverty: it usually tends to increase not only incomes but also provide some additional resources in order to overcome the issue of poverty. Globalization or trade liberalization in general is being found to increase economic opportunities for consumers and producers and to raise earnings for workforce and that under grater openness to trade, resources tend to be reallocated towards productive activities and away from less efficient activities. Foreign Direct Investment (FDI) is well attracted by openness to the free flow of capital, which then stimulates domestic investment and contributes to employment generation and economic growth. Financial openness also helps to increase the depth and breadth of domestic financial markets, leading to increased efficiency in financial markets through lower costs and improved resource allocation.

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THE CONSEQUENCES OF GLOBALIZATION

Mainly, the general views about globalization can be categorized into four main perspectives that are economic, technological, development, and societal respectively. The Economic Perspective: of globalization is the growth of world trade as a proportion of output (the ratio of world imports to gross world product, GWP, has grown from some 7% in 1938 to about 10% in 1970 to over 18% in 1996). It is reflected in the explosion of foreign direct investment (FDI): FDI in developing countries has increased from $2.2 billion in 1970 to $154 billion in 1997. It has resulted also in national capital markets becoming increasingly integrated, to the point where some $1.3 trillion per day crosses the foreign exchange markets of the world, of which less than 2% is directly attributable to trade transactions. The Technological Perspective: involves Information Communication Technology (ICT) what explains this globalization? It certainly lies in the development of technology. The costs of transport, of travel, and above all the costs of communicating information have fallen dramatically in the postwar period, almost entirely because of the progress of technology The Development Perspective: is the most controversial and important of all. It touches the heart of dichotomy which today globalization phenomenon faces. It tries to find the clues of the increasing divide between the rich and the poor, the existing cleavage between the ICT haves and have-nots, under the umbrella of one world concept of integrated markets and capital flows. Above all it challenges the greatest protagonists of globalization, the global institutions of World Bank, IMF, and even WTO one hand. One the other it has created a massive wave of antagonists threatening the industrial nations through antiglobalization relays, protests, and strikes. The Societal Perspective: focuses on some key factors which have become pivotal to ensure the longevity of success of developed nations and that are their sensitivity to the community, cultural norms, and environmental care. This includes the condition of human rights, women empowerment, gender sensitization, civic education, status of women in the society, political status becoming more democratic, freedom of speech, rule of law, equal access to resources and level of education.

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ADVANTAGES ARISING FROM GLOBALISATION

Countries which operate successfully within the international economy have grown much faster than those who wish not to trade international. Countries which embrace globalisation see their economy grow by an average of 2.5 percent more than the closed economies. This level of economic growth in these particular countries improves the living standards and reducing poverty. For example, India has cut its poverty rate in half over the last 20 years as a result of international trade.

Through the increase in wealth, the standard of healthcare and access to clean water had increased life expectancy. Over 85 percent of the worlds population can expect to live to at least 60, twice the expectancy 100 years ago. The level of Foreign Direct Investment has accelerated due to increased global income and reduced investment barriers. FDI in 1973 totalled $23 billion, increasing to $575 billion in 2003.

Environmental awareness and accountability has improved leading to the use of more efficient, less polluting technologies and the importation of renewable substitutes. Increased co-operation and interdependence between global institutions such as the World Trade Organisation and the World Bank, has enabled international political and economic tensions to be resolved, on a r ules basis instead of greater economic or political power basis.

Technological advances has reduced costs in the way world communicates, learns, does business and treat illnesses.

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DISADVANTAGES OF GLOBALISATION
Freedom of trade awards competitive businesses and penalises the uncompetitive thus forcing many businesses to restructure. Although this may prove beneficial in the long run, there are serious implications associated in the immediate to short term. Some countries have not embraced globalisation for various reasons, resulting in a further decline in their standards of living.

Economies can become over reliant on the international market which in turn makes them more vulnerable to economic problems such as the Asian financial crisis in the late 1990s. As a result of globalisation, major economic powers have a strong influence over institutions such as the World Trade Organisation. This then can work against the interests of the world by only beneficial to these major economies. For example, the level of agricultural protection by rich countries is estimated to be five times greater than what aid is provided to poor countries.

Trade liberalisation and technology improvements can change the economy of countries, destroying traditional agricultural communities through the importation of cheap manufactured goods. If not managed correctly, this can lead to unemployment as traditional jobs become scarce and people may not have the necessary skills for the new jobs created. Due to the increased level of competition, there can be a race to the bottom level regarding wages and labour standards due to the availability of locating wherever is least expensive for businesses.

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 As a result of the borderless markets, countries can experience the concept of a brain drain, where educated people will leave to find better job opportunities overseas. Although there are a variety of advantages and disadvantages relating to globalisation mentioned above, there are still more areas which are important to highlight. According to Buzzle (2011), there are other positives relating to international trade which are of vital important. This states that as a result of globalisation the possibility of war between the developed countries decreases due to relationships being built and continuously improved. This business concept also allows for the global media to connect to all the people of the world which in turn will aid the level of international trade and finally the level of international travel and tourism increases, having a positive effect on the chosen economy. Some of the negative effects associated with globalisation which have not been mentioned include an increase in unemployment in areas due to companies moving to countries with cheaper labour costs. In some countries environmental laws are not as strict, resulting in exploitation and environmental destruction and due to international trade human, plant and animal diseases can be spread more easily (English Online N.D).

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THE BATTLE TO BALANCE GLOBALISATION

Within the concept of globalisation it is imperative that an element of equality is implemented worldwide. At present it is evident that there is a huge gulf in the class and equality of countries currently embracing globalisation and so these countries must strive, with the aid of global institutions such as the WTO, to achieve a balance or worldwide equality. A lot of responsibility of ensuring this equality falls on those economies that are making the greatest strides in globalisation with the following quote from Kofi Annan, the former SecretaryGeneral of the United States, encapsulating this theory we cannot not afford to ignore the condition of our fellow passengers on this little boat. If they are sick, all of us risk infection. And if they are angry, all of us can easily get hurt. An example of a country that encapsulates this ethos within globalisation to its fullest potential, while also striving to close the gap between the developed and developing world is Australia. Australia is availing of the advantage of borderless markets to export its products such as wool, wheat and minerals. The level at which it exports is resulting in the standards of living being continuously improved through the creation of further employment and the influx of wealth from these sales. Australia is also now able to borrow capital internationally which can either be used to cover deficits which might occur or for investment purposes thus again improving living standards. Although this aids the development of their own economy, Australia is aware of the inequalities present in the developing countries. Due to Australia being surrounded by developing nations a lot of their products will either go to or through these countries. The government as a result, provides technical assistance, capacity building initiatives and investment, and information communication technologies to promote active participation in the global community. Australia is currently working to maximise the benefits and minimise the challenges faced by these developing nations. (Global Education, January 2011)

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CONCLUSION
Having given a comprehensive overview of what is globalisation, how its measured, the impact it has globally and its developments this report still finds it difficult to sway fully towards one definite side of favour for this topic. Yes globalisation has numerous pros and lots of rewards for those that embrace and encourage it but it also pulls on morality and ethics in a negative way by the seeming effects it has on the poorer and less developed countries, not only this but its malignant application seems to deepen inequalities with its misaligned distribution of wealth. It also seems to be not only a global consideration or practise, not only a definite article as such, but also a philosophy in a way, that can be understood as is applicable to oneself or to suit one own companies/countys needs or favour. There is many different definitions of Globalisation, many different breakdowns of what it basically is and also many different analogies of it, from a ship to a borderless worldwide market. So could this uncertainty/lack of nailed down recognition be the reason for its negative application? Could it be intrinsic greed on the back of the 80:20 principle (80% of the worlds wealth belongs to 20% of the worlds population) that has generated a global agenda towards deepening the pockets of the already rich by deepening the poverty and suffering of the already poor? If this were the case would such an agenda, although guised under the pretence of a global focus on borderless trade and equal distribution of wealth and resources, be truly globalisation as the concept it is in its fundamental essence? Is it not a general threat amongst conceptual ideals that are aimed towards a new (better) world order that it is in its essence virtuous but often disproportionately adaptable for greed and corruption? But still this is all effectively wanderings of thought due to the uncertainty that exists within globalisation, as who can say what is right and what is wrong. Some things for certain however is that there is a definite increasing gulf between the rich and poor and a definite misappropriation of wealth in a time when globalisation should be creating the opposite scenario, compounded by advancements in technology that accelerate this crises.

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