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Concept of Globalization

In: Business and Management

Submitted By selyn
Words 388
Pages 2
The concept of globalisation is one of the most debated issues since the collapse of communism. The rapid acceleration of globalisation has for long been associated with technological advancement and the international market. I will argue that globalisation is not a new phenomenon as its history can be traced back to the feudal period. This work examines the negative and positive aspects of globalisation with regards to Ghana.

To begin with, even though, globalisation is a positive or powerful force for the improved material well-being of humankind, that would aid developing countries to “create better economic environments” improve their access to technology; speed development and enhance global harmony”, its effects on the political, economic, social and cultural nerves of the weaker member states cannot be ignored without severe consequences. This is particularly so in that, globalisation affects developmental thinking and actions of the developing polities; relegates ethical equity and social concerns behind market consideration and reduces the autonomy of the independence states. Indeed, globalisation is an awesome and terrifying phenomenon for Ghana.

It is therefore, a need for an appropriate response to emerge from Ghana with a view to understanding the dynamics that will hopefully help to evolve measures that will reduce the devastating effects of globalisation. The Political identification and human interaction are increasingly crossing national boundaries to create new global connections. De-regulation of financial and other markets and the integration of markets for goods, services and capital such as the European community. It has also made government increasingly less able to control the flow of capital, information and technology across all boarders. It has also led to the production of goods and services acceptable to the global market and the

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