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In the post-World War II environment, fostered by international economic institutions and rebuilding programs, international trade and investment dramatically expanded. By the s, the effects of Developed country and globalization flow of trade and investment became increasingly visible, both in terms of the benefits and the disruptive effects.
As with all human endeavors, globalization processes are strongly affected by the values and motivation of the people involved in the process.
In theory, globalization should benefit all people because it can produce greater overall economic value. Achieving an equitable distribution of the added value, however, would require the people who dominate the market to embody the virtue of sacrificing themselves to serve the higher purpose of the good of all.
However, the legacy of colonialismwhich causes a lingering arrogance among the powers in the Group of Eight and creates suspicion in the developing world, means that for many people, globalization is feared and resisted as a negative.
Corporatist culture is seen as trampling upon local values and local economies. The Western, secular value system of the major economic actors is seen as a neo-colonial affront to people with non-Western religious and cultural values.
Thus, resistance to globalization is growing in many places, manifesting in the early twenty-first century with rise of Islamic terrorism. To be successful, the leaders of the globalization process need to practice the virtues of respect for religious and cultural values, and sacrifice their economic self-interest for the benefit of people suffering poverty and want.
It is a challenge whose resolution requires world leaders to pay heed to the religious and cultural dimensions of life and to develop a global world view that lifts up the shared values of all cultures.
Globalization has both technical and political meanings. As such, different groups will have different histories of "globalization. The term "liberalization" came to mean the combination of laissez-faire economic theory with the removal of barriers to the movement of goods.
This led to the increasing specialization of nations in exports, and the pressure to end protective tariffs and other barriers to trade.
There were several eras of intense cross-cultural encounters in pre-modern times pre C. The first important era to mention here is the time of the Roman and Han empires. This is the era of the ancient silk-road, roughly B.
The consolidation of large imperial states pacified enough of Eurasia that trading networks could safely link the extreme ends of the landmass.
Nomadic peoples played an especially prominent role in the economy of the silk roads, since they both consumed the finished products of settled lands and transported them to other customers. So long as the silk roads remained active, they facilitated not only the exchange of trade goods but also the communication of cultural and religious traditions throughout much of the Eastern Hemisphere.
This era came to an end with the collapse of the Roman and Han empires, which had anchored and sustained much of the interregional commerce in goods and ideas, and with the outbreak of devastating epidemic diseases that disrupted societies and economies throughout Eurasia. Beginning about the sixth century, however, a revival of long-distance trade underwrote a second round of intense cross-cultural encounters.
The revival of cross-cultural dealings depended again on the foundation of large imperial states, such as the TangAbbasidand Carolingian empires, which pacified vast stretches of Eurasia and gained the cooperation of nomadic peoples who provided transportation links between settled regions.
But, long-distance trade in the sixth century benefited also from much more frequent use of sea lanes across the Indian Ocean. Merchants once again linked the Eurasian landmass, while impressive numbers of missionaries and pilgrims traveled in their company.
In an era often labeled a dark age—quite inappropriately—literacy and religions of salvation particularly Buddhism, Islamand early forms of Christianity extended their influence to most parts of Eurasia.
The development of a consciousness of the world as a whole first came with the conquest of most of Eurasia, the biggest and long the most populous and culturally and technologically advanced continent, by the Mongols in the thirteenth century.
Economist Ronald Findlay argues that: For the first and only time in history, a single regime presided over the entire length of the overland trade routes linking China and the Near East.1 GLOBALIZATION AND THE LEAST DEVELOPED COUNTRIES1 1.
Introduction This paper analyses how the Least Developed Countries (LDCs)2 are affected by the current process of globalization, and considers what policies LDCs and the international community can implement to .
Does globalization benefit both developed and developing countries? Globalization is regarded as the process of shorten the distance, in many aspects, of our world. The benefit of globalization is said to be high efficiency and the growth of gross domestic product (GDP).
The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in recent times and.
What Is globalization? Is it the integration of economic,globalization definition political, and cultural systems across the globe? Or is it the dominance of developed countries in decision-making, at the expense of poorer, less powerful nations?
The concept of "globalization" is deceptively simple. The free market must be allowed to function without interference. Governments must remove all barriers that prevent the full and free operation and movement of goods and services, capital, firms and financial institutions across borders. Dangers of globalization generally draw from advantages of globalization, since policies advantageous to one country may constitute setback to another.
When we group developed and developing countries, a pattern emerges that offers more advantages to developed countries than developing ones, such as.