The Globalization of World Economics

The globalization of the global economy– is that the conversion of an international

house into one whole, wherever there aren't any set boundaries for informational
technologies, merchandise and sales, and capital. individuals would travel with no limitations
transporting their product and ideas, stimulating the event of international organizations and
mastering its potency and interactions. Globalization implies the formation of a universal
international economy; in different words, this development falls within the framework of
politics, ideology, and culture. with no doubt it'll play a crucial role within the world economy
of the twenty-first century, giving a robust force to the formation of the new system of
international economy and political relations.
First of all, globalization is caused by the objective factors of world development: by
the advancing international division of labor, by the scientific and technical progress in the
fields of transportation and means of connections, which reduces the so-called economic
distance between the countries. By making it possible to obtain all the necessary information
from any point of Earth in real-time and making rapid decisions, current telecommunication
systems make it easy to coordinate international capital investments, cooperate the
production and marketing. With the informational integrations, there is increasing progress in
technology share and adoption. There are many more other processes that promote
globalization, which used to be only local within its state, like – obtaining a higher education
on the distance from the institute facilities themselves.
The second supply of globalization – could be an alleviation of the trade markets and
alternative varieties of economic alleviation, that caused limitations to the policy of economic
policy and removed restraints on international trade. As a result, tariffs were considerably
lowered, and plenty of alternative barriers in trades of products and services were removed.
further measures of liberalizations cause a strengthening of the capital movement and
alternative factors of production.
However, globalization affects the economy of all countries. It influences the assembly
of products and delivery of services, labor utilization, investments, technology, and its
propagation from one country to a different. All of this can be mirrored within the potency of
production, the productivity of labor and competitive ability. Specifically, economic process
caused the aggravation of international competition.
Overall, the advantages of globalization will improve the position of all countries and
international relations, which gives an opportunity for increasing global production, stabilizing
the world economy and improving everyone’s standards of living.
 What is Globalization?

I believe that globalization has changed the face of the planet- both in terms of how
we communicate, what types of political and social issues we face, and even the choices
we make in basic human needs like food. We all know that globalization brought so many
things and foreign ideas which can help our life living more easier to live.
I appreciate the essence of globalization because it somehow offered so many
opportunities that a person can grab and it allows us to discover and to learn with so many
things that we didn’t know before. I also extremely believe that through globalization, we
can easily find a suitable job for us because u know, if there are humans, there is also an
opportunity that we can get for.
But somehow, it looks like many of us were being so abusive about globalization.
One must know that globalization has advantages and disadvantages, knowing that only
people who make globalization became more abused. We must apply codes and ethics
about globalization so we can contribute to the development of our country.
We must be thankful that globalization really exists because if there is no
globalization at all? Maybe we’re now dying for hunger, or else our education system would
not be improved. However, globalization really a good factor that can help the country. It is
we who make globalization a bad thing.
 Essays, UK. (November 2018). The Globalization of The World Economy.
Retrieved from https://www.ukessays.com/essays/economics/the-globalization-of-
the-world-economy-economics-essay.php?vref=1